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Jobless claims fall, weather clouds factory picture
Reuters ^ | February 20, 2014 | Lucia Mutikani

Posted on 02/20/2014 3:14:49 PM PST by John W

(Reuters) - The number of Americans filing new claims for unemployment benefits fell last week, suggesting the labor market continues to steadily improve despite severe weather that could hold back hiring again this month.

Cold temperatures continue to inflict pain on the economy, with other reports on Thursday showing a surprise drop in factory activity in the mid-Atlantic region this month and a spike in electricity and heating fuel prices in January.

"This has been a terrible winter. Weather has definitely been a factor in keeping things slow," said Alan MacEachin, an economist at Navy Federal Credit Union in Vienna, Virginia. "Looking at everything right now, I don't know how we can get a good picture for probably at least a couple of months."

Initial claims for state unemployment benefits slipped 3,000 to a seasonally adjusted 336,000, the Labor Department said.

The claims data covered the period for February's nonfarm payrolls count. Snow storms slammed parts of the country last week, which could have kept some workers at home, and possibly held back payrolls growth in February.

(Excerpt) Read more at reuters.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS:
Posted mainly for the lame excuses which continue unabated at the link.
1 posted on 02/20/2014 3:14:49 PM PST by John W
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To: John W

Oh yeah, it’s raining so I can’t find work. I guess it was raining and snowing for 8 years straight when Bush was in office. No wonder these obama ass sniffers are called Rooters’..


2 posted on 02/20/2014 3:39:39 PM PST by max americana (fired liberals in our company last election, and I laughed while they cried (true story))
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To: John W
Blaming it on the weather? What in the HELL do they think seasonally adjusted means?
3 posted on 02/20/2014 3:51:20 PM PST by fhayek
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To: John W

This is what passes for the American press today. obama is ordering the FCC to put ministers of compliance in all media outlets and radio and TV stations... they want to make certain that they stay compliant with the comrade decree. Why? It seems that the press is 100% behind stalin’s plan so why?


4 posted on 02/20/2014 4:57:11 PM PST by LibLieSlayer (FROM MY COLD, DEAD HANDS! BETTER DEAD THAN RED!)
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