Justin Sullivan/Getty Images
Industryweek 8284 Unemployment3

Unemployment Claims Take Another Dive

Feb. 19, 2015
Economic forecasters predicted claims at around 290,000, but still below the 300,000 number that would indicate a slowdown in jobs growth.

Applications for unemployment benefits took a big drop last week, according to the latest numbers from the Labor Department.

The new report shows a drop of 21,000 to a seasonally adjusted 283,000. A look at the more reliable four-week average shows a drop of 6,500 to 289,750, the lowest level in nearly four months.

Economic forecasters predicted claims at around 290,000, but still below the 300,000 number that would indicate a slowdown in jobs growth.

Jobs growth has been on a roll, with more than 1,000,000 jobs created between November and January, it’s the most positive three-month run in 17 years.

Wages are still lagging and while the unemployment rate has dropped nearly a full percent over the last 12 months, economists say there is still room for things to tighten up.

More than 3.2 million jobs have been created in the last year, knocking the unemployment rate down to 5.7%.

But Federal Reserve policymakers say even at that number, there’s a lot of room to grow. And with that analysis, said it would continue to hold off on a raise of the short-term interest rate.

Popular Sponsored Recommendations

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Powering Up Productivity: The Transformative Power of AP Automation in Manufacturing

Oct. 25, 2023
Discover how AP Automation is revolutionizing the manufacturing industry, driving efficiency, cost savings, and security. In today's world, automation is the key to staying competitive...

Beware Extreme Software

Sept. 24, 2023
As a manufacturer, you understand the importance of staying ahead of the curve and being proactive in your approach to technology. With the rapid pace of change in the industry...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!