Ace of Spades HQ

« Where are the Jobs? | Main | Today's Top Ten »

May 06, 2004

Jobless Claims Lowest Since 2000; Plunge to 315,000

400,000 per week is considered the break-point between a deteriorating and improving economy:

WASHINGTON (Reuters) - America's employment outlook brightened on Thursday after the government said jobless claims dropped last week to their lowest since 2000, bolstering expectations for strong numbers in the April jobs report.

U.S. Treasury bond yields hit a two-year high on the unexpectedly rosy number and the dollar climbed 1 percent against the yen as markets bet heavily the Federal Reserve will hike interest rates this summer as the economy warms.

The picture of a better jobs climate was also backed by an unexpected increase in unit labor costs in the first quarter, alongside respectable productivity growth of 3.5 percent.

First-time claims for state unemployment benefits shrank 25,000 to 315,000 in the week ended May 1, the Labor Department said. It was the third straight week of declines.

Wall Street analysts had forecast a slight fall in claims to 335,000 from a revised 340,000 the previous week.

Grant Wilson, vice president of foreign exchange at Mellon Bank in Pittsburgh, said the jobless numbers were a good omen on the eve of the April employment report.

"We weren't expecting anything as (good) as this. It bodes well for the unemployment number tomorrow," Wilson said.

April non-farm payrolls are set for release at 8:30 a.m. EDT (1230 GMT) on Friday and are forecast to show creation of 173,000 new jobs. That would be a marked moderation from March, when 308,000 were added, but still evidence that labor conditions are tightening.

So there's the estimate.

posted by Ace at 06:39 PM

| Access Comments


Advertise Here! Intermarkets' Privacy Policy Support Donate to Ace of Spades HQ! Recent Entries Daily Tech News 16 April 2024 Monday Overnight Open Thread (4/15/24) Fuzzy Tide Cafe Quithicks Biden Again Expands Amnesty to An Additional 1.2 Million Illegals, On No Authority But His Own Kingly Might NPR CEO AWFL Doubles Down on the Intense Regime Bias at the State Media Company; In Past Tweets, She Declared Trump a "Racist" As the Rest of the Civilized Nations Wake Up to the Horrors of "Gender Affirming Care" for Minors, Kansas' AWFL Governor Vetoes a Bill To Forbid It Soros DA Alvin Bragg's Election Interference Prosecution Begins; Conflict-of-Interest Judge Tells Trump He Must Be In Court, Every Day, In the Height of Campaign Season, or Be Arrested Biden Approved Iran's Attack on Israel, So Long As the Attack Was "Within Certain Limits" Of Course: Biden Now Pressuring Israel Not to Retaliate Against IRan Absent Friends Bandersnatch 2024 GnuBreed 2024 Captain Hate 2023 moon_over_vermont 2023 westminsterdogshow 2023 Ann Wilson(Empire1) 2022 Dave In Texas 2022 Jesse in D.C. 2022 OregonMuse 2022 redc1c4 2021 Tami 2021 Chavez the Hugo 2020 Ibguy 2020 Rickl 2019 Joffen 2014 AoSHQ Writers Group A site for members of the Horde to post their stories seeking beta readers, editing help, brainstorming, and story ideas. Also to share links to potential publishing outlets, writing help sites, and videos posting tips to get published. Contact OrangeEnt for info: maildrop62 at proton dot me Cutting The Cord And Email Security Cutting The Cord [Joe Mannix (not a cop)] Cutting The Cord: It's Easier Than You Think [Blaster] Private Email and Secure Signatures [Hogmartin] Moron Meet-Ups NoVaMoMe 2024: 06/08/2024 Arlington, VA Details to follow Texas MoMe 2024: 10/18/2024-10/19/2024 Corsicana,TX Contact Ben Had for info	« Where are the Jobs? \| Main \| Today's Top Ten » May 06, 2004 Jobless Claims Lowest Since 2000; Plunge to 315,000 400,000 per week is considered the break-point between a deteriorating and improving economy: WASHINGTON (Reuters) - America's employment outlook brightened on Thursday after the government said jobless claims dropped last week to their lowest since 2000, bolstering expectations for strong numbers in the April jobs report. U.S. Treasury bond yields hit a two-year high on the unexpectedly rosy number and the dollar climbed 1 percent against the yen as markets bet heavily the Federal Reserve will hike interest rates this summer as the economy warms. The picture of a better jobs climate was also backed by an unexpected increase in unit labor costs in the first quarter, alongside respectable productivity growth of 3.5 percent. First-time claims for state unemployment benefits shrank 25,000 to 315,000 in the week ended May 1, the Labor Department said. It was the third straight week of declines. Wall Street analysts had forecast a slight fall in claims to 335,000 from a revised 340,000 the previous week. Grant Wilson, vice president of foreign exchange at Mellon Bank in Pittsburgh, said the jobless numbers were a good omen on the eve of the April employment report. "We weren't expecting anything as (good) as this. It bodes well for the unemployment number tomorrow," Wilson said. April non-farm payrolls are set for release at 8:30 a.m. EDT (1230 GMT) on Friday and are forecast to show creation of 173,000 new jobs. That would be a marked moderation from March, when 308,000 were added, but still evidence that labor conditions are tightening. So there's the estimate. posted by Ace at 06:39 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments m: "Pixy is up at his other site: https://ai.mee.nu ..." m: "BOO! ..." Wolfus Aurelius, Dreaming of Elsewhere [/i] [/b]: "Quiet here tonight. ..." charisma: "Attrаctive section of content. I jᥙst ..." JM in Ill -- Behold the Manchurian Candidate: "396 No don't use anything Posted by: Skip at Apri ..." m: "LenNeal you got a hat tip in the righthand sidebar ..." LenNeal: "I'll try the Dune 2 soundtrack see what that sound ..." LenNeal: "Got up and about, went shooting, now at the office ..." m: "399 ..." Wolfus Aurelius, Dreaming of Elsewhere [/i] [/b]: "Morning, all you insomaniacals, Last night was ..." Skip: "Have to go to south Philly but won't be there all ..." Gutter guard installation: "Nice blog here! Also your website loads up fast! ..." Recent Entries Daily Tech News 16 April 2024 Monday Overnight Open Thread (4/15/24) Fuzzy Tide Cafe Quithicks Biden Again Expands Amnesty to An Additional 1.2 Million Illegals, On No Authority But His Own Kingly Might NPR CEO AWFL Doubles Down on the Intense Regime Bias at the State Media Company; In Past Tweets, She Declared Trump a "Racist" As the Rest of the Civilized Nations Wake Up to the Horrors of "Gender Affirming Care" for Minors, Kansas' AWFL Governor Vetoes a Bill To Forbid It Soros DA Alvin Bragg's Election Interference Prosecution Begins; Conflict-of-Interest Judge Tells Trump He Must Be In Court, Every Day, In the Height of Campaign Season, or Be Arrested Biden Approved Iran's Attack on Israel, So Long As the Attack Was "Within Certain Limits" Of Course: Biden Now Pressuring Israel Not to Retaliate Against IRan Search Search this site: Polls! Polls! Polls! Real Clear Politics Rasmussen Reports Gallup Frequently Asked Questions What is the Deal with the Cowbell? Why is the Ace of Spades called "the Death Card"? The (Almost) Complete Paul Anka Integrity Kick Primary Document: The Audio Paul Anka Haiku Contest Announcement Integrity SAT's: Entrance Exam for Paul Anka's Band AllahPundit's Paul Anka 45's Collection AnkaPundit: Paul Anka Takes Over the Site for a Weekend (Continues through to Monday's postings) George Bush Slices Don Rumsfeld Like an Fckin' Hammer Top Top Tens Democratic Forays into Erotica New Shows On Gore's DNC/MTV Network Nicknames for Potatoes, By People Who Really* Hate Potatoes Star Wars Euphemisms for Self-Abuse Signs You're at an Iraqi "Wedding Party" Signs Your Clown Has Gone Bad Signs That You, Geroge Michael, Should Probably Just Give It Up Signs of Hip-Hop Influence on John Kerry NYT Headlines Spinning Bush's Jobs Boom Things People Are More Likely to Say Than "Did You Hear What Al Franken Said Yesterday?" Signs that Paul Krugman Has Lost His Frickin' Mind All-Time Best NBA Players, According to Senator Robert Byrd Other Bad Things About the Jews, According to the Koran Signs That David Letterman Just Doesn't Care Anymore Examples of Bob Kerrey's Insufferable Racial Jackassery Signs Andy Rooney Is Going Senile Other Judgments Dick Clarke Made About Condi Rice Based on Her Appearance Collective Names for Groups of People John Kerry's Other Vietnam Super-Pets Cool Things About the XM8 Assault Rifle Media-Approved Facts About the Democrat Spy Changes to Make Christianity More "Inclusive" Secret John Kerry Senatorial Accomplishments John Edwards Campaign Excuses John Kerry Pick-Up Lines Changes Liberal Senator George Michell Will Make at Disney Torments in Dog-Hell Greatest Hitjobs The Ace of Spades HQ Sex-for-Money Skankathon A D&D Guide to the Democratic Candidates Margaret Cho: Just Not Funny More Margaret Cho Abuse Margaret Cho: Still Not Funny Iraqi Prisoner Claims He Was Raped... By Woman Wonkette Announces "Morning Zoo" Format John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia World Muslim Leaders Apologize for Nick Berg's Beheading Michael Moore Goes on Lunchtime Manhattan Death-Spree Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears Liberal Economists Rue a "New Decade of Greed" Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility Intelligence Officials Eye Blogs for Tips They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq Leather-Clad Biker Freaks Terrorize Australian Town When Clinton Was President, Torture Was Cool What Wonkette Means When She Explains What Tina Brown Means Wonkette's Stand-Up Act Wankette HQ Gay-Rumors Du Jour Here's What's Bugging Me: Goose and Slider My Own Micah Wright Style Confession of Dishonesty Outraged "Conservatives" React to the FMA An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear The Story the Rightwing Media Refuses to Report! Our Lunch with David "Glengarry Glen Ross" Mamet The House of Love: Paul Krugman A Michael Moore Mystery (TM) The Dowd-O-Matic! Liberal Consistency and Other Myths Kepler's Laws of Liberal Media Bias John Kerry-- The Splunge! Candidate "Divisive" Politics & "Attacks on Patriotism" (very long) The Donkey ("The Raven" parody) Syndicate this site (XML) Powered by Movable Type 2.64