STORM2K

Jobless Down, Some Manufacturing Soars

NEW YORK (Reuters) - Good news on the U.S. economy piled up on Thursday with a quartet of reports showing a fall in claims for jobless benefits and a surprise surge in regional manufacturing that bodes well for the entire nation.

First-time claims for state unemployment insurance, a rough guide to the pace of layoffs, plunged 22,000 to 353,000 last week from a revised 375,000 in the prior week, the Labor Department said.

The unexpectedly steep drop brought claims back to the 2-3/4 year low they hit in early November. Wall Street economists had expected claims to slip to 365,000 from the 378,000 originally reported for the Dec. 6 week.

"The jobless claims numbers show the labor markets are improving and that increases the likelihood that the economy will remain strong," said Gary Thayer, chief economist at A.G. Edwards & Sons in St. Louis.

Another report showed manufacturing in the mid-Atlantic region jumped in December from an already strong level, despite forecasts of a slight decline. New orders hit a 23-year high.

Well that is some good news,

Yep.... Vote Bush.

I, for one, work for a company who's business has boomed. We are building 4 homes a week! Up from only 2 in the begining of 2003.

Yep, well lifting the tariff on steel imports should turn that back around again. Steel industry is gonna be history soon.

I don't know if I really believe the stats they put out there. Peoples' unemployment run out sooner or later, are these ppl then considered off unemployment? I just heard JC Penny is closing some stores nation wide.

I was just in a store that is owned by the same company that owns Sam Goodie and they are closing 280 stores. I think that you are right Lakeeffect. When your unemploy,ment benefits run out, then you are no longer considered filing for benefits.