More Good News on Jobs - Real Time Insight
March 07 2013 - 4:10AM
Zacks
It looks like yesterday’s February ADP numbers are no
fluke. Last week’s unemployment claims data, which add the
weight of the first week of March to the overall data, came in
positive.
More signs the economy is picking up steam.
In the week ending March 2, the advance figure for seasonally
adjusted initial claims was 340,000, a decrease of
-7,000 from the previous week's revised figure of 347,000. The
4-week moving average was 348,750, a decrease of -7,000 from the
previous week's revised average of 355,750.
Here was the important background data in the big states…
STATES WITH A DECREASE OF MORE THAN 1,000
- California had a -40,352 decrease in claims. It says that
there are fewer layoffs in all sectors, with the largest decrease
coming from the services industry.
- New York had a much smaller -2,070 decrease. It says fewer
layoffs in construction, retail, healthcare, and the social
services industry contributed.
- In Texas, with its -1,334 decrease, there was no note.
Any thoughts?
Do you agree that this is another leading indicator of
coming improvement in jobs data tomorrow and next
month?
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