Following the broader trend of a slowly creeping economic recovery, the number of initial unemployment claims dropped by 42,000 to 346,000 last week. This figure is near the national average for first time unemployment claims for the first few months of this year, which signals a labor market that is staying a positive course. Though March’s total jobs added was less than encouraging with 88,000, fewer than half of the monthly average from the past year, these unemployment figures suggest that March’s downturn was a mere irregularity. Continued unemployment claims also fell by 12,000 to 3.08 million. Things could definitely be going more quickly for the economic recovery but we must not take stability for granted. At least the United States is posting positive figures for employment unlike Greece, which has reached record levels of unemployment this week with 25.7% of the population currently out of a job. The take-home message here is that things are actually getting better and we should all be thankful that they aren’t getting worse. To read the Market Watch report on jobless claims, click the link below.
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