The Norman Transcript

Headlines

May 3, 2013

Economy gaining

WASHINGTON — Fewer Americans are losing their jobs. Employers are struggling to squeeze more work from their staffs. The U.S. is producing so much oil that imports are plunging, narrowing the trade deficit.

A string of data Thursday raised hopes for stronger hiring and U.S. growth in coming months. More jobs would spur spending and help energize the economy, which has yet to regain full health nearly four years after the Great Recession officially ended.

And an interest rate cut Thursday by the European Central Bank, if it helps bolster the European economy, could also contribute to U.S. growth.

The U.S. economic reports came one day before the government will report how many jobs employers added in April. Economists think the gain will exceed the 88,000 jobs added in March, the fewest in nine months.

The government said Thursday that the number of Americans applying for unemployment aid fell last week to a seasonally adjusted 324,000 — the fewest since January 2008. Unemployment applications reflect the pace of layoffs: A steady drop means companies are shedding fewer workers. Eventually, they’ll need to hire to meet customer demand or to replace workers who quit.

The four-week average of unemployment applications, which is less volatile than the weekly figure, sank to 342,250. That was near a five-year low.

The figures for unemployment applications “point to potential improvement moving into May,” said Ted Wieseman, executive director of Morgan Stanley Research.

The government also said Thursday that the productivity of U.S. workers barely grew from January through March after shrinking in the last three months of 2012. Productivity shows how much employees produce per hour of work. When it remains weak, employers can’t keep pulling more output from their staffs. As customer demand strengthens, they’ll need to hire.

Productivity grew at a seasonally adjusted annual rate of 0.7 percent in the January-March quarter. And that was after it shrank in the October-December quarter. For all of 2012, productivity rose a scant 0.7 percent, after an even punier 0.6 percent rise in 2011.

Text Only | Photo Reprints
Headlines
  • Junior Police Graduation First Junior Police Academy graduates

    The room went dark and a slideshow flipped through photos of children participating in the first Junior Police Academy as kids chattered excitedly, remembering what they had done over the past two weeks. Norman Police Department hosted ...

    July 25, 2014 1 Photo

  • Officials say transparency lacking in Wal-Mart zoning

    Norman city staff recently admitted to withholding information from the public regarding a controversial zoning change in southeast Norman. If approved by the city council, the proposal will allow a Wal-Mart supercenter at Cedar Lane and ...

    July 25, 2014

  • Air Algerie jet crashes with 116 on board

    OUAGADOUGO, Burkina Faso — An Air Algerie jetliner carrying 116 people crashed Thursday in a rainstorm over restive Mali, and its wreckage was found near the border of neighboring Burkina Faso — the third major international aviation ...

    July 25, 2014

  • Nonprofit raises $3.9M-plus for new center

    The Center for Children and Families, a United Way of Norman partner agency, announced Thursday that it exceeded its public fundraising goal of $3.5 million and raised more than $3.9 million to complete the purchase and renovation of a ...

    July 25, 2014

  • Very bad week: Airline disasters come in a cluster

    WASHINGTON — Nearly 300 passengers perish when their plane is shot out of the sky. Airlines suspend flights to Israel’s largest airport after rocket attacks. Two airliners crash during storms. Aviation has suffered one of its worst weeks ...

    July 25, 2014

  • Police log

    Police responded to the following incidents Wednesday: · 5:58 a.m. indecent exposure, 100 block of West Comanche Street · 6:08 a.m. burglary in progress, 100 block of West Hayes Street · 8:09 a.m. larceny report, 100 ...

    July 25, 2014

  • Felonies filed

    The following people were charged with felony counts in the Cleveland County Court Clerk’s Office: · Angela Beth Mendinghall, 36, unauthorized use of a vehicle; driving with a canceled, suspended or revoked license · Daniel ...

    July 25, 2014

  • Immigrant children being placed with sponsors

    OKLAHOMA CITY — The federal government says more than 200 unaccompanied children in Oklahoma have been placed with sponsors so far this year. The federal government released a state-by-state breakdown Thursday of the numbers of ...

    July 25, 2014

  • OCU prepares to move law library downtown

    OKLAHOMA CITY — Oklahoma City University’s School of Law is moving its library into a historic building in downtown Oklahoma City....

    July 25, 2014

  • Grad to serve as delegate at camp

    William Long, 2014 Norman North High School graduate, recently represented Oklahoma as a delegate at the 2014 National Youth Science Camp. Long joined 100 other top high school graduates representing the United States and eight other ...

    July 25, 2014