Rise in unemployment claims rose slightly in the week ended March 22, however the dip most likely doesn't suggest any major change in the hiring momentum that has been noted in recent months, Reuters reports.
According to the media outlet, new data released by the U.S. government this week also showed the economy overall expanded 0.4 percent in the fourth quarter of 2012, beating the average of analysts' predictions. Together, these two reports confirm the beliefs of many economists, who say the U.S. likely picked up even more steam in the first quarter of 2013.
Still, there are some voices that say the fiscal changes that went into place in January may have had an effect on job growth.
"The underlying growth trend is showing some encouraging signs, but the key risk is how much fiscal tightening we'll see this year," said Laura Rosner, economist at BNP Paribas in New York.
The latest jobless claims report shows 357,000 people filed for unemployment, which was 16,000 higher than the previous week. However, most analysts say this was a small blip that arose after jobless claims fell to their lowest in five years in previous weeks, the news source stated.
But the fact that the four-week moving average still came in below 350,000, at 343,000, suggests hiring is still going on at a steady pace.
"The improvement in the underlying pace of layoffs during the first three months of 2013 has been meaningful," RBS analysts said in a note to clients.
Signs are emerging all over the country that employers may be more willing to boost their staffing. According to Business News Daily, new research from Gallup shows Houston came in as the top metropolitan area for job creation in the country, with Columbus, Ohio, Orlando, Florida, Charlotte, North Carolina and Salt Lake City, Utah rounding out the top five.