U.S. weekly jobless claims fall 18,000 to 338,000 WASHINGTON (CBS.MW) - The average number of new claims for state unemployment benefits over the past four weeks fell by 1,250 to 346,500, the Labor Department said Thursday. Initial claims in the week ending April 24 fell by 18,000 to 338,000, the department said. Economists say the four-week average provides a better gauge of the job-loss side of the labor market than the volatile weekly number, which is subject to large revisions and can be skewed by one-time factors such as weather or holidays. The four-week average of total claims fell 9,250 to 3 million, the lowest level since July, 2001.
U.S. Q1 ECI up 1.1% vs 0.9% forecast WASHINGTON (CBS.MW) - The cost of employing a U.S. worker increased 1.1 percent in the first three months of the year, with the bulk of the increase coming from higher costs for benefits such as health care, the Labor Department reported Thursday. Economists were expecting a 0.9 percent gain in employment costs, according to a survey conducted by CBS MarketWatch. Benefit costs soared 2.4 percent while wages and salaries rose 0.6 percent in the first quarter. In the fourth quarter, employment costs rose 0.8 percent, with benefits up 1.4 percent and wages up 0.5 percent.
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