Thursday, April 24, 2014
YOLO COUNTY NEWS
99 CENTS

Unemployment applications fall to 341,000

WASHINGTON (AP) — The number of people seeking unemployment benefits fell by 27,000 last week, an indication that hiring could improve.

The Labor Department said Thursday that weekly applications dropped to a seasonally adjusted 341,000, the lowest level in three weeks. The four-week average, a less volatile measure, ticked up to 352,500 from a five-year low of 351,000 the previous week.

Applications have declined slowly but steadily in recent months. The four-week average has fallen 5 percent since November. Applications are a proxy for layoffs. As they fall, net hiring typically rises.

The applications figures “continue to show no sign of new weakening–if anything, the opposite,” said Jim O’Sullivan, an economist at High Frequency Economics. “The message: the recent trend in employment growth is at least being maintained.”

The snowstorm that hit the Northeast this weekend had limited impact on the latest figures. The report covers the week ended Feb. 9, before the storm hit. The Labor Department said it estimated figures for two states, including Connecticut where the storm closed state offices. Illinois also didn’t provide data.

Job gains have picked up in the past three months, although companies remain cautious about adding workers.

Employers added an average of 200,000 jobs a month from November through January. That’s up from about 150,000 in the previous three months.

The economy added 157,000 jobs in January, the government said earlier this month. And revisions showed employers added 181,000 jobs per month last year, up from an earlier estimate of 153,000.

Still, unemployment remains high. The unemployment rate ticked up to 7.9 percent in January from 7.8 percent in December. Economists expect the rate will decline if hiring continues at last year’s monthly pace of 180,000. The rate fell 0.7 percentage points in 2012.

The number of people receiving benefits also rose. More than 5.9 million people received benefits in the week ended Jan. 26, the latest data available. That was about 325,000 more than the previous week.

The economy contracted at an annual rate of 0.1 percent in the October-December quarter, hurt by a sharp cut in defense spending, fewer exports and sluggish growth in company stockpiles. That’s much slower than the 3.1 percent growth recorded in the July-September period.

Still, economists expect that figure will be revised in the coming months to show a small increase, after more data about last quarter has been reported. Economists at Barclays Capital estimate the economy expanded 0.5 percent in the fourth quarter.

Growth will likely pick up a bit in the January-March quarter to an annual rate of 1.5 percent, analysts forecast. That’s better than the fourth quarter but below last year’s expansion of 2.2 percent.

The Associated Press

LEAVE A COMMENT

Discussion | No comments

The Davis Enterprise does not necessarily condone the comments here, nor does it review every post. Read our full policy

.

News

 
4-H members prepare for Spring Show

By Anne Ternus-Bellamy | From Page: A1

Food insecurity remains an issue for many county residents

By Anne Ternus-Bellamy | From Page: A1

 
 
Youth sports in focus on radio program

By Enterprise staff | From Page: A4

 
Rummage sale will benefit preschool

By Enterprise staff | From Page: A4

Concert benefits South Korea exchange

By Enterprise staff | From Page: A4

 
Conference puts focus on Arab studies

By Enterprise staff | From Page: A4

Water rate assistance bill advances

By Enterprise staff | From Page: A5

 
Program explores STEM careers for girls

By Enterprise staff | From Page: A5

Embroiderers plan a hands-on project

By Enterprise staff | From Page: A5

 
Central Park Gardens to host Volunteer Orientation Day

By Enterprise staff | From Page: A5 | Gallery

Volkssporting Club plans North Davis walks

By Enterprise staff | From Page: A5

 
Hotel/conference center info meeting set

By Enterprise staff | From Page: A5

Davis honors ‘green’ citizens

By Enterprise staff | From Page: A5

 
Cycle de Mayo benefits Center for Families

By Anne Ternus-Bellamy | From Page: A8

Author to read ‘The Cat Who Chose to Dream’

By Anne Ternus-Bellamy | From Page: A12

 
.

Forum

High-five to Union Bank

By Letters to the Editor | From Page: A6

 
Broken sprinklers waste water

By Letters to the Editor | From Page: A6

Three more administrators?

By Letters to the Editor | From Page: A6

 
Neustadt has experience for the job

By Letters to the Editor | From Page: A6

Here’s a plan to save big on employee costs

By Special to The Enterprise | From Page: A6

 
Davis is fair, thoughtful

By Letters to the Editor | From Page: A6

Ortiz is the right choice for Yolo

By Letters to the Editor | From Page: A6

 
Tom Meyer cartoon

By Debbie Davis | From Page: A6

The high cost of employment

By Letters to the Editor | From Page: A6

 
.

Sports

DHS tracksters sweep another DVC meet

By Enterprise staff | From Page: B1 | Gallery

 
Another DVC blowout for DHS girls soccer

By Evan Ream | From Page: B1 | Gallery

Young reinvents his game to help Aggies improve on the diamond

By Bruce Gallaudet | From Page: B1 | Gallery

 
DHS boys shuffle the deck to beat Cards

By Thomas Oide | From Page: B1 | Gallery

DHS/Franklin II is a close loss for Devil softballers

By Enterprise staff | From Page: B1

 
Baseball roundup: Giants slam Rockies in the 11th

By The Associated Press | From Page: B2

 
UCD roundup: Aggies lose a softball game at Pacific

By Enterprise staff | From Page: B3

Jahn jumps to Sacramento Republic FC

By Evan Ream | From Page: B8

 
.

Features

.

Arts

Congressional art competition open to high school students

By Enterprise staff | From Page: A11

 
Emerson, Da Vinci to present ‘Once Upon a Mattress’

By Enterprise staff | From Page: A11

 
Winters Plein Air Festival begins Friday

By Enterprise staff | From Page: A11

 
Bach Soloists wrap up season on April 28

By Jeff Hudson | From Page: A11

 
.

Business

.

Obituaries

.

Comics

Comics: Thursday, April 24, 2014

By Creator | From Page: B6