WASHINGTON (AP) -- The number of people requesting unemployment benefits declined for the second straight week, suggesting that the slowing economy isn't prompting widespread job cuts. New claims for unemployment aid fell last week by 6,000 to a seasonally adjusted 472,000, the Labor Department said Thursday. Economists had expected a slight increase, according to a survey by Thomson Reuters.The four-week average of claims, a less-volatile measure, fell by 2,500 to 485,500, its first decrease after four straight increases.
Is this a sign of economic recovery or is it that we have more and more discouraged workers? Possibly the first one, since people will normally cease requesting benefits from the government if they have found a new job. We are also interested in knowing what type of jobs is increasing: unskilled jobs, or those that requires college-level and upward training? Remember that during the recession, many professional lose their jobs, which usually doesn't happen before in any economic dip. Do they have jobs now? Are they the same, or now they have to grab any jobs available that don't really match their skills? This is a question that may need further investigation.
ReplyDeleteI think this probably deals with both recovery and discouraged workers. I agree with the fact that there are people who have found work so they have stopped requesting unemployment benefits, but i also think that, even though benefits are increased to 99 weeks, that some people may have ran out of time and can no longer collect.
ReplyDeleteIt might be due to the increase in the number of people who can afford and want to pursue higher education before entering labor force? Also, I read in some article that Baby Boomers begin to hit retirement age, and some people even consider retirement as an excuse to go back to school.
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