Jobless Claims Lower in March

Jobless claims declined once again in the week ending March 31, the Wall Street Journal reports. The decline is seen as a continued reassurance that U.S. employers are hiring more and firing less. The rate of jobless claims has been decreasing steadily since fall of 2011.The jobless claims fell to an estimated 357,000, indicating a 6,000 decrease. The claims for the previous week were revised upwards to 363,000, an increase from 359,000. The moving four week average of claims, which is seen as a less volatile way of measuring the fluctuations in the job market, lowered to 361,750, a 4,250 drop.On Friday, the government will release a broader assessment of the labor market. Economists expect that the U.S. Economy added 203,000 jobs in March. If these expectations are met, it would be the fourth month in a row that more than 200,000 jobs were added to the economy.In spite of these gains, economists are currently predicting that the unemployment will stick at 8.3% for the next month. The stagnation of the unemployment rate is likely a result of previously discouraged workers reentering the labor market. The rate that jobs are being added to the economy is not currently fast enough to counteract those workers reentering the market.

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