NewsMine — economy — united-states — 2003 — 2003-sept-oct — Viewing Item

Jobless claims lowest eight months { October 9 2003 } Original Source Link: (May no longer be active)    http://www.washingtonpost.com/wp-dyn/articles/A2938-2003Oct9.html http://www.washingtonpost.com/wp-dyn/articles/A2938-2003Oct9.html Jobless Claims Lowest in Eight Months By JEANNINE AVERSA The Associated Press Thursday, October 9, 2003; 9:38 AM WASHINGTON - New claims for unemployment insurance fell last week to their lowest level in eight months, a hopeful sign that companies may be having a bit more faith in the staying power of the economic recovery and thus are easing the pace of layoffs. The Labor Department reported Thursday that for the work week ending Oct. 4 new applications for jobless benefits dropped by a seasonally adjusted 23,000 to 382,000, the best showing since Feb. 8. That marked a better performance than analysts were forecasting. They were predicting claims would dip to 395,000 last week. New claims hit a high this year of 459,000 in the middle of April. With claims last week dipping below 400,000, a level associated with a sluggish labor market. Economists are encouraged that the pace of firings may now be stabilizing. The more stable, four-week moving average of new claims, which smoothes out weekly fluctuations, declined by 11,500 last week to 393,500, also the lowest level since Feb. 8. The number of unemployed people collecting jobless benefits for more than a week also went down by 7,000 - to 3.6 million for the week ending Sept. 27, the most recent period for which that information is available. Hopeful signs on the labor market front come as the economy, which grew at a annual rate of 3.3 percent in the April-to-June quarter of this year, is believed to have picked up more speed and grown at a rate of around 5 percent in the July-to-September quarter, economists said. For the first time in eight months, the economy actually added jobs in September - 57,000 of them - helping to keep the nation's unemployment rate at 6.1 percent, the government reported last week. While that employment report offered hope that job seekers may be seeing better days ahead, economists said steady improvement in the battered job market will take time. They said companies will want profits to get stronger and feel more confident in the vigor of the economic rebound before they go on a hiring and spending spree. Federal Reserve Chairman Alan Greenspan and his colleagues are expected to hold a main short-term interest rate at a 45-year low of 1 percent when they meet next on Oct. 28, economists said. By holding rates at such low levels, businesses and consumers might be more inclined to boost spending and investment, something that would lift economic growth. © 2003 The Associated Press

2 years in a row more in poverty Asian debt withdrawal threat to us deficit { September 7 2003 } Asian unpegging crucify us { October 3 2003 } Bush bid weaken dollar against asia { September 24 2003 } Bush cuts schools highways { September 10 2003 } Bush priorities under scrutiny Bush takes credit economic upturn { September 1 2003 } China brings us export resictions into trade debate Deficit not manageable { September 18 2003 } Deflation still worries federal reserve { September 17 2003 } Deflation will continue for years { September 10 2003 } Disappointed earnings bonds rally Dollar gains on euro { September 2 2003 } Dollar over valued { September 18 2003 } Dollar plunges 3 year low Dollar tumbles low against euro { October 8 2003 } Economy expands fastest since 1984 no jobs { October 31 2003 } Fed holds rates warns on deflation Firms dont buy rebound Firms still slashing jobs Foreign investors fear weak dollar { September 22 2003 } Gold hits 7 year high { September 25 2003 } Gold records as tumbling dollar { September 10 2003 } Government claims unemployment stabilizing { October 3 2003 } Grocery workers 3rd day strike san diego { October 14 2003 } Job loss like great depression Jobless claims lowest eight months { October 9 2003 } La transit strike may strand 500 thousand { October 14 2003 } Mass august layoffs { September 26 2003 } Monthly costs iraq approach vietnam Poor gained 1 3m in 2002 { September 3 2003 } States risk big losses bond funding pensions { October 12 2003 } Stocks at 14 month high { September 2 2003 } Stocks fall economy worries { September 30 2003 } Stocks lower after production data Stocks rebound hopes intact { October 1 2003 } Stocks rise on upbeat analyst reports { September 8 2003 } Stocks slip bonds rise Trade gap bring down dollar warns imf { September 19 2003 } Trade gap could bring down dollar { September 19 2003 } Uninsured increases 2 4 million last year { September 30 2003 } Us bonds face gloomier future as selling continues { September 7 2003 } Us closes last levis manufacturer { September 26 2003 } Us losing millions manufacturing jobs { September 4 2003 } Weak dollar raises stocks Files Listed: 45

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