WASHINGTON — The number of newly laid-off workers seeking unemployment benefits fell more than expected last week to the lowest total in a month, a sign that the job market may be improving.
The Labor Department said first- time claims for unemployment insurance dropped by 43,000 to a seasonally adjusted 440,000. Wall Street economists expected a decline of 15,000, according to a survey by Thomson Reuters.
The jobless-claims report was the first of the year that wasn’t affected by a holiday backlog. The easing of the backlog had elevated the numbers for the previous three weeks. The latest figures likely provide a clearer picture of the job market.
And they raise some hopes for the economic rebound.
“The recovery is slowly taking root,” Diane Swonk, chief economist at Mesirow Financial, wrote in a research note.
Still, she added, “Any gains we see are likely to remain muted given the depth of the losses we endured, especially when it comes to jobs.” And the jobs outlook is about to get muddy again.
The unemployment-claims numbers for this week that will be reported next week will likely be affected by the closing of businesses and government offices because of the snowstorms in the mid-Atlantic region.
