Weekly Jobless Claim Number to Bode Well for Economy

By: Associated Press
By: Associated Press

Ahead of this morning's government report, the FactSet survey predicts the number of people seeking first-time jobless benefits will fall to a four-year low, an encouraging sign for job creation.

Economists surveyed forecast claims should rise by 7,000 to a seasonally adjusted level of 355,000. Anything below 375,000 is usually enough to lower the unemployment rate. And that figure for February comes out next week.

The economy added more than 240-thousand net jobs in January, the most in nine months. The unemployment rate dropped for the fifth straight month, to 8.3 percent -- the lowest in nearly three years.

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