March 6 (Bloomberg) — Fewer Americans than projected filed applications for unemployment benefits last week, an indication companies are holding on to staff even as cold weather threatens to slow the world's largest economy.
Jobless claims declined by 26,000 to 323,000 in the week ended March 1, fewer than any economist forecast in a Bloomberg survey and the least since the end of November, a Labor Department report showed today in Washington. A Labor Department spokesman said the recent fluctuation coincides with states most affected by winter storms.
Fewer dismissals could set the stage for more robust hiring, in turn spurring consumers to feel more confident and giving them the means to spend more. That would help the economy pick up after a weather-induced slowdown in gauges from housing starts to retail sales early in the year.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
