Instant view: Jobless claims hover near 4-year lows

Reuters News
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Posted: Mar 01, 2012 8:45 AM

NEW YORK (Reuters) - New claims for unemployment benefits edged down last week, holding near four-year lows, according to a government report on Thursday that suggested the labor market was gaining momentum.

COMMENTS:

KEVIN CUMMINS, U.S. ECONOMIST, UBS SECURITIES, STAMFORD, CONNECTICUT

"It sets up for a favorable employment report. It's consistent with our thought that the pace of job growth is picking up and accelerating. Chairman Bernanke mentioned that yesterday.

"It does add to the evidence that the economy's got more momentum than people expect and we don't think there will be more quantitative easing and this data supports that."

DAVID SLOAN, ECONOMIST, IFR ECONOMICS, A UNIT OF THOMSON REUTERS

"There are hints of stabilization in a trend that has recently significantly improved, suggesting (the trend) in payrolls will maintain its recent improvement, but might not accelerate further."

WAYNE KAUFMAN, CHIEF MARKET ANALYST AT JOHN THOMAS FINANCIAL IN NEW YORK

"Jobless claims were in line with expectations, so this is a non-event for trading."

(Americas Economics and Markets Desk)