Advertisement
Economic Forecasts

Jobless Claims Down Slightly for the Week

First-time applications for unemployment insurance declined once again.

The number of first-time filers for unemployment benefits continued to decline last week, the Department of Labor reported Thursday. The number of newly unemployed workers for the week ended April 8 came to 234,000, a decrease of 1,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 234,000 to 235,000. The 4-week moving average was 247,250, a decrease of 3,000 from the previous week's revised average. Weekly initial jobless claims are tracking at levels last seen in 1973, according to the Federal Reserve.

Advertisement - Article continues below

The latest news on the employment front follows last week's disappointing monthly jobs report. Only 98,000 net jobs were added in March, largely as a result of an East Coast blizzard during the survey period. Also, some construction hires came earlier this year, given abnormally warm weather in January and February. Average monthly job gains for the first quarter of 2017: 178,000, not too far from Kiplinger's forecast of 175,000, on average, for the full year.

The unemployment rate dropped to 4.5% in March. This is the lowest since 2007, when it hit 4.4%. The rate will likely end 2017 at 4.5%, but next year it should head down more, nearing 4%, by Kiplinger's estimates.

In other signs of labor market tightening: The number of long-term unemployed individuals declined, along with the number of people working part-time who want to work full-time. The unemployed and underemployed together totaled 8.9% of the labor force. That’s still above the 2007 low of 8.0%, but a far cry from the peak of 17.1% in early 2010.

Advertisement
Advertisement

Most Popular

11 Dividend-Paying Stocks You Should Think Twice About
dividend stocks

11 Dividend-Paying Stocks You Should Think Twice About

Dividend-paying stocks often can be a store of safety, but 2020 has been difficult on income equities. These 11 picks look like shaky plays despite th…
September 21, 2020
How To Buy a Roth IRA When You Make Too Much To Qualify For One
Roth IRAs

How To Buy a Roth IRA When You Make Too Much To Qualify For One

With their tax-free growth and tax-free withdrawals, Roth IRAs are a great deal — if you qualify. If you don’t, well, there’s still a way to get into …
September 23, 2020
High-Tech Aids for Aging in Place
Caregiving

High-Tech Aids for Aging in Place

Apple Watch and other technology provides fast feedback, comfort for older users, and a powerful assist for caregivers.
September 23, 2020

Recommended

7 Foreign Countries Luring Americans to Work Abroad During the Pandemic
careers

7 Foreign Countries Luring Americans to Work Abroad During the Pandemic

Work remotely – really remotely – in these appealing destinations offering special visas for American workers.
September 18, 2020
Back in School Decades Later
Empty Nesters

Back in School Decades Later

Getting a degree or certificate in retirement or later in life can have its advantages.
September 2, 2020
Even in a Pandemic, Some Employers Are Hiring
Coronavirus and Your Money

Even in a Pandemic, Some Employers Are Hiring

During COVID-19, you may have to use different strategies to find the job you want.
August 26, 2020
Back to School, Ready or Not
Technology

Back to School, Ready or Not

This Florida teacher’s school let families choose distance learning or in-person classes.
August 26, 2020