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Byline: CHRISTINA WISE
Data out Thursday offered a mixed portrait of the economy as jobless claims rose, inflation remained tame and Chicago-area manufacturing heated up.
New jobless claims rose 20,000 to 350,000 last week, the Labor Department said. That pushed the four-week average up to 336,000, a two-month high. But continuing claims fell 66,000 to 2.6 million, the lowest since April '01.
Also, NAPM-Chicago's March factory activity index rose 6.5 points to 69.2, the highest since '88. Readings over 50 signal growth.
Regional factory hiring rose, pushing the index's jobs component to 66, the highest in 22 years.
The reports come on the eve of the Labor Department's March jobs report, which tracks payrolls through the week of March 11. Economists expect 225,000 jobs. Also slated for release Friday is ISM's U.S. factory activity report.
Separately, the Commerce Department said personal income grew 0.3% in February. Wage and salary growth was 0.2%.