It's The Economy Stupid: Jobs

Weekly jobless claims lowest since Mid-April 2008

 

Economic Event	Period	Economic Survey	Actual Reported	Original Prior	Revised Prior
Challenger Job Cuts YoY	MAR		-8.8%	2.0%
RBC Consumer Outlook Index	APR		46.6	47.5
Initial Jobless Claims	MAR 31	355K	357K	359K	363K
Continuing Jobless Claims	MAR 24	3350K	3338K	3340K	3354K

 

Jobless Claims in U.S. Fell to Lowest Level in Four Years.  Claims for U.S. unemployment benefits dropped last week to the lowest level in four years, adding to recent reports showing signs of health in the economy.

 

Jobless claims fell 6,000 to 357,000 in the week ended March 31, the fewest since April 2008, the Labor Department reported today in Washington. The median forecast of 43

economists in a Bloomberg News survey estimated a decrease to 355,000. The number of people on unemployment benefit rolls also dropped, while those getting extended payments increased.

 

The improved labor market, rising stock prices and easier credit are lifting U.S. consumer confidence and spending, which accounts for 70 percent of the economy.

 

All of us economic wonks eyes now shift to tomorrow’s report which may show the world’s largest economy added more than 200,000 jobs in March for a third consecutive month, the longest streak of similar increases since late 1999 early 2000.

 

Tomorrow’s report from the Labor Department on total payrolls, which includes government workers, is projected to show:

 

Change In Nonfarm Payrolls, 205,000 estimated for March, 227,000 was the February number

Change in Private Payrolls, 215,000 estimated for March, 233,000 was the February number

Change in Manufacturing Payrolls, 20,000 estimated for March, 31,000 was the February number

Unemployment Rate, 8.3% estimated for March, 8.3% was the February number

 

All according to a median forecast of economists surveyed by Bloomberg.

 

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7^th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

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Exit 1B I-110 Convention Street,

Turn Left to get to North Blvd,

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