Initial claims for unemployment insurance in the U.S. dropped to 368,000 in the week ending February 26, a decrease of 20,000 compared to the previous week figure of 388,000, the U.S. Labor Department said on Thursday.
We had a very solid job report today which clearly shows that the private sector standing back up and that a lot of the initiatives like the bi-partisan tax deal of December are laying the ground work that we can grow. - AUSTAN GOOLSBEE
The nation's economy finally appears to be reaching "escape velocity," said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi in New York. He pointed out that Friday's solid jobs report followed encouraging data on auto sales, chain store revenue and other economic barometers.