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Applications for unemployment aid hit 7-year low

Associated Press
April 10, 2014
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The number of people seeking U.S. unemployment benefits dropped to the lowest level in almost seven years, falling 32,000 last week, to a seasonally adjusted 300,000.

The Labor Department said Thursday that the four-week average of applications, a less volatile measure, fell 4,750, to 316,250.
Applications are a proxy for layoffs. The decrease suggests that employers expect stronger economic growth in the coming months and are holding onto their workers.

But Ian Shepherdson, chief economist at Pantheon Macroeconomics, cautioned that the drop-off might be smaller than it appears. He noted that the Easter holiday, which moves from year-to-year, might have distorted the seasonal adjustments.

“We need to see a few more weeks’ numbers before we can be sure where the trend now stands,” Shepherdson said in a client note. “Our core view is that claims are drifting gently downwards.”

Employers added 192,000 jobs in March, the Labor Department said last week. That follows gains of 197,000 in February, as the unemployment rate stayed at 6.7 percent for the second straight month.

Snowstorms and freezing temperatures in January and December shut down factories, kept shoppers away from stores, and reduced home buying. That cut into growth and hiring. Employers added 144,000 jobs in January and only 84,000 in December.

More jobs and higher incomes will be needed to spur better overall economic growth. For now, economists expect the bad weather contributed to weak growth of 1.5 percent to 2 percent at an annual rate in the January-March quarter. But as the weather improves, most analysts expect growth to rebound to near 3 percent.
 

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  1. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

  2. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

  3. I was visiting Indianapolis last month, and I was really, really surprised at how many panhandlers in Indy used signs. I currently live in Knoxville, and probably only one in 20 has a sign. They're still there panhandling, just no sign. I think I prefer the signs.

  4. For the record - the Kincaid's also own and operate the Fishers Banquet Center in the 96th & I-69 quadrant. The facility is mediocre at best. And there was a recent article stating they filed bankruptcy. Why are we wasting more money on a property just because it's a certain age to a family who can't run a business without running it to the ground and filing bankruptcy? I don't live in Hamilton County any more but if I still did I wouldn't have put any money towards them. It's a waste. Bull doze it down. The Kincaid's want the money to fund them for their mishaps with filing bankruptcy.

  5. Any estimated opening dates for Giordanno's?

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