The number of Americans filing initial
unemployment claims fell last week to 344,000, close to a three-year low and a sign of halting improvement in the job market.
Initial applications fell by 24,000 in the week that ended
Saturday from 368,000 a week earlier, the Labor Department said in
Washington. It marked the first decrease since the week ended Jan.
24, when the number fell to 339,000 and matched the lowest since
January 2001. The drop reflected declines in the states that had
reported weather-related increases in the previous two weeks, the
department said.
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Productivity gains outpaced economic growth for a third
straight year in 2003 as businesses looked to cut costs. Home
Depot Inc. and Tyson Foods Inc. are among companies in the last
week that have announced plans to improve efficiency, suggesting a
stronger economy this year may not create as many jobs as in
previous expansions.
Bloomberg News
