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Jobless claims decrease

Posted on March 14th, 2014 Read time: 1 minutes

Jobless claims decreased in the week that ended March 8, which is a good sign the economy is improving. The number of people who filed for unemployment benefits decreased by 9,000 for the week to stand at a total of 315,000, according to the Labor Department. This is the lowest mark for jobless claims since November 2013.

The recent figures are actually less than what economists had originally predicted. According to a survey conducted by Bloomberg, the median projection for total jobless claims was expected to be 330,000. Brian Jones, senior U.S. economist at Societe Generale, told Bloomberg March may see more positive numbers before the month is over.

"The labor market continues to improve," Jones said. "We're likely to get eye-popping numbers for March payrolls. The economy is not in a soft patch."

Along with a decrease in jobless claims, retail sales rose by 0.3 in February, a sign that consumers feel comfortable with spending.

With a drop in unemployment applications and a jump in consumer purchasing, businesses may start to feel more confident with adding more workers to their staffs. Temporary workers are a great resource to use when looking to expand a business.

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