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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

New jobless claims drop by 11,000

Unemployed Americans filed 448,000 new jobless claims last week, a figure that was down 11,000 from the previous week and that was in line with expectations.

Continuing unemployment claims last week rose slightly to 4.66 million, up from 4.64 million the previous week.

The four-week moving average on new jobless claims, which smooths out volatility in the data, rose 1,500 to 462,500. This bump up is so small as to be nearly statistically insignificant. If the four-week moving average begins to flatten and then eventually turn downward, the economy will get closer to creating new jobs.

Forecasters expected last week's number to come in at 448,000.

The official U.S. unemployment rate is 9.7 percent. The April number will be released next Friday and forecasters expect the number to remain unchanged. Economists say that the unemployment rate will stay near 10 percent through the end of the year.

Generally, economists say that new job growth can't begin until the new jobless claims number gets down into the low 400,000s or upper 300,000s and stays there. This time last week, the economy was shedding 700,000 new jobs per week. And though the number is much better this year, the weekly jobless claims number remains stubbornly stuck in the mid-400,000s.

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By Frank Ahrens  |  April 29, 2010; 8:40 AM ET
Categories:  The Ticker  | Tags: Unemployment, United States, Work, new jobless claims  
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Comments

Jobless claims drop by 11,000. I wonder how many government jobs have been created in the meantime....11,000 perhaps?

Posted by: thebink | April 29, 2010 9:27 AM | Report abuse

Prove the problems as originals and you can study less and work more. Always be glad to forget the cause of a quarrel at the earliest opportunity. There will be both.

Posted by: tossnokia | April 29, 2010 10:18 AM | Report abuse

Off shore drilling will create more jobs cleaning up oil spills and collecting dead sea life. They are lighting the gulf on fire to save the shore, which means we have gone from the lake of political fire to a gulf of it. Jump right in, the water is fine. I was looking for a productive woman and now I'm looking for a reproductive woman. Maybe I'll do some off shore drilling on the boat.

Posted by: tossnokia | April 29, 2010 1:49 PM | Report abuse

Feb 7, 2009 ... "We're counting on you to stop it. Thank you, congressman." .... We Are All Socialists Now. Jon Meacham and Evan Thomas ...
www.newsweek.com/id/183663

Change tactics and strategy to render them ridiculous and turn intellectual somersaults. I guess were all Greeks too. They are looking for fresh victims. You'll need a permit to live. The overthrow of capitalism is impossible without violence. Wrecking your stock value only requires methodical timing and your days are numbered. Maybe Hugo can be named editor in chief you dolts. We'll all get free oil and many virgins in heaven. You are not running an enterprise, you are running a criminal enterprise. The media mob. Sufferings they have caused. You're out of road son.

Posted by: tossnokia | April 29, 2010 3:35 PM | Report abuse

Forgot a '. Take it up the ...holes. We're gonna bury you.

Posted by: tossnokia | April 29, 2010 4:11 PM | Report abuse

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