Unemployment Claims Hit a Four-Year Low
More good economic news, unemployment claims fell to a four-year low. According to the Department of Labor, unemployment claims fell to 357,000.
What does that mean?
When unemployment benefit applications drop consistently below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate.
The downward trend in applications is a promising sign ahead of Friday’s report on March job growth. Employers added an average of 245,000 jobs per month from December through February. And the unemployment rate has fallen from 9.1 percent in August to 8.3 percent in February, the lowest in three years.
[ Greeley Tribune ]