Unemployment claims head downward
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Manufacturing News, Source : TheManufacturer.com
Published : 04 Mar 2004 20:45
Initial unemployment claims dropped to 345,000 for the week ending February 28, down 7,000 from the previous week’s revised figure of 352,000, the US Department of Labor reported today.
The previous week saw a slight rise in claims, but the week ending February 14 saw the largest drop in claims since November 2003. The general downward trend in claims has sparked speculation that an employment recovery may be in the offing.
The manufacturing sector has lost about three million jobs since January 2001. The current overall unemployment rate is 5.6 percent, released last month by the US Bureau of Labor Statistics.
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