According to reports, jobless claims are now near pre-recession levels. The Labor Dept reported that initial claims for state unemployment benefits increased by 2,000 to a seasonally adjusted 304,000 for the week ending April 12, and numbers stayed close to a 6 1/2-year low the prior week.
Data covered the survey week for April nonfarm payrolls. According to Reuters, “despite last week’s increase, claims were down 19,000 between the March and April survey periods, which suggests an acceleration in job growth.”
Janet Yellen, Federal Reserve Chair, told reporters that the economy was making “very meaningful progress.” She also said there is possibility that it would be back to almost full employment by the end of 2016.