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AP survey of economists predicts that the unemployment rate will dip below 8% by election day...

By: oldCADuser in FFFT | Recommend this post (0)
Thu, 03 May 12 9:22 PM | 26 view(s)
Boardmark this board | Food For Further Thought 		Msg. 41437 of 65535
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AP survey: Steady job gains to sustain US recovery

By PAUL WISEMAN

May 3, 2012

WASHINGTON (AP) - Hiring through the rest of 2012 will lag the brisk pace set early this year. But it will be strong enough to push the unemployment rate below 8 percent by Election Day.

That's the view that emerges from an Associated Press survey of 32 leading economists who foresee a gradually brighter jobs picture. Despite higher gas prices, Europe's debt crisis and a weak housing market, they think the economy has entered a "virtuous cycle" in which hiring boosts consumer spending, which fuels more hiring and spending...

For the full article, go to:

http://apnews.myway.com/article/20120503/D9UH39VO0.html

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The above is a reply to the following message:
Jobless Claims in U.S. Decline More Than Forecast
By: clo in FFFT
Thu, 03 May 12 4:57 PM 		Msg. 41425 of 65535

Trending, let's hope it continues in tomorrows numbers.

Jobless Claims in U.S. Decline More Than Forecast
By Timothy R. Homan and Shobhana Chandra - May 3, 2012 8:44 AM ET

Fewer Americans than forecast filed applications for unemployment benefits last week, easing concern the job market was taking a turn for the worse.

Jobless claims fell by 27,000 to 365,000 in the week ended April 28, a one-month low, from a revised 392,000 the prior period, Labor Department figures showed today in Washington. The median forecast of 46 economists surveyed by Bloomberg News called for 379,000 applications.

The plunge in dismissals makes it more likely that the surge over the past three weeks was caused by the timing of the Easter holiday rather than a deterioration in employment. Federal Reserve policy makers last week said that while labor- market conditions have improved, the unemployment rate “remains elevated,” helping explain why they stuck to a plan to hold borrowing costs close to zero through 2014

more@ Bloomberg.com

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