Initial jobless claims come in than economists had forecast showing a still weak jobs climate.
The Labor Department said Thursday that initial jobless claims for the week ending April 13th came in at a seasonally adjusted 352,000 which was slightly higher than expectations of 350,000 and an increase of 4,000 over last week’s numbers.
The employment market has not yet rebounded even four years into the President’s economic recovery plan that included multiple rounds of stimulus, cash-for-clunkers, the auto bailout and more.
The latest reports will likely feed into Federal Reserve considerations of whether to continue massive liquidity dumps including an $85 billion per month bond-buying program intended to keep interest rates low. The Fed has indicated that it will continue stimulus activities until the labor market recovers to acceptable levels.
With labor participation rates at 40 year lows, a recovery is likely far off.