A Good Sign: Unemployment Applications Declining

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The number of Americans seeking unemployment benefits is down to its lowest level in four months.

The Labor Department said Thursday that weekly applications decreased by 1,000 to a seasonally adjusted 400,000.

"(Applications) have been grinding lower, and this week's result is at least not bad news, which at this point feels pretty good," said Robert Kavcic, an economist at BMO Capital markets.

Earlier numbers showed unemployment applications at or above 400,000 for 17 weeks. In February, they fell to 375,000.

Economists say the decline is good news for the job market and shows the possibility of healthy growth.

Some are forecasting the upcoming jobless report will show that employers added a net total of 90,000 jobs.

Even with the lower number of applications, the unemployment rate is expected to remain unchanged at 9.2 percent, since many companies still announced more layoffs.

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