Weekly jobless claims fall to 383,000
A job seeker looks at a bulletin board with job listings at the Career Link Center One Stop job center in San Francisco, Calif.
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ADRIENE HILL: Weekly jobless claims are out. 383,000 people applied for unemployment last week. The U.S. Labor Department says that's the lowest level in nearly three years. There's hope that companies are finally starting to hire. But it's not fast enough for a whole lot of folks out of work which brings back us to today's question: Are government regulations getting in the way of new jobs? A House panel will take that up later today.
Marketplace's David Gura is with us now live from Washington to help sort it out. Good morning David.
DAVID GURA: Hey Adriene.
HILL: So give me some specifics about what regulations the House Republicans are targeting.
GURA: Well Darryl Issa, the chairman of the House Oversight Committee, has cast a pretty broad net. Today there'll be test money for manufactures, and small business owners. And they're going to talk about what Congressman Issa is calling "Regulatory Impediments to Job Creation."
HILL: Big name.
GURA: It's klikely we'll hear about the health care overhaul, financial reform, and EPA rules. Kurt Bardella is the Congressman Issa's press secretary.
KURT BARDELLA: We need a robust and expansive debate about what we can do next to try to foster a better environment for job creation.
They've gathered a long list of complaints -- 200 letters from companies and trade groups. The White House has come up with a list of its own. Regulations it thinks should go, but it's safe to say that list isn't nearly as long.
HILL: It's not just businesses and regulations that the Republicans are focusing on this week. They just unveiled a new, trimmed budget. What's the budget go after.
GURA: They're trying to make good on the spending cut they promised on the campaign trail. They want 60 federal programs eliminated. There would also be some big cuts to the Department of Education, to high-speed rail. Republicans say their budget would save about $35 billion.
HILL: Alright, David Gura in Washington. Thanks David.
GURA: Thank you.