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US Labor Market Strengthens

Gina Johnson performs leak tests on hydraulic fittings at the Eaton Corp. plant in Berea, Ohio, January 25, 2012.
Gina Johnson performs leak tests on hydraulic fittings at the Eaton Corp. plant in Berea, Ohio, January 25, 2012.

The number of unemployed U.S. workers seeking new jobless benefits fell to a four-year low last week, as the labor market strengthens in the world's largest economy.

The government's Labor Department said that 357,000 workers made first-time claims for unemployment compensation, down 6,000 from the week before. That was the lowest total since April 2008.

The government is set to release its jobs report for March on Friday, with economists projecting that another 200,000 or more jobs were added last month.

But with more unemployed workers starting to look again for jobs, the economists are also predicting that the national unemployment rate will remain at 8.3 percent. The jobless rate had fallen for five straight months in the latter half of 2011 as the U.S. economy slowly recovered from the depths of the country's worst economic downturn in seven decades.

The current unemployment figure is still high by U.S. historical standards.

The country's economic performance is at the center of the U.S. presidential campaign, leading to the November election.

President Barack Obama, a Democrat, is defending his handling of the country's economic recovery and has pointed to the recent increase in hiring as evidence. His leading Republican opponent, one-time venture capitalist Mitt Romney, says the U.S. economic advance has not been fast enough and that he would cut governmental regulations to give the economy even more momentum.

Some information for this report was provided by AP, AFP and Reuters.

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Comment Sorting
Comments
     
by: Nick
April 10, 2012 12:23 PM
Yeah where are those jobs for older americans. Where are they in China.. Where are they already. Where are those jobs that oboma promised us.. Where are they??

by: William
April 09, 2012 8:44 AM
You people in the media will parlay the lies told to the public by this inept federal government, We know they pad the the statistics on unemployment benefits and if there is a reduction in claims thats due to the fact people can't find work and are exhausting their benefits and completely giving up, I blame the U.S. government for all the promlems we face today.

by: hamad part 1 of 1
April 06, 2012 11:59 AM
If you add those Americans who have given up seeking for jobs the number will jump to 16.3 immediately . Your fake polls and statistics will never change the reality . Those claims remind me about those polls which indicates the 55% Americans oppose control guns whereas they have been losing many victims every day. How could you accept like those allegations which can contradict the reality? Go to Chicago if you want to see long queues of jobless Americans .

by: NVO
April 05, 2012 2:23 PM
SURE!!!!.................................NOT!

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