Saturday, November 19, 2011
Jobless Claims Fall to 7-Month Low: Is the United States' Large Layoff Period Ending?
A ray of light at the end of the tunnel? Maybe, but recent initial jobless claims statistics may have the light getting a little brighter. Initial jobless claims 4-week moving average has hit a seven month low. Though this is a good sign, we are not out of the water yet. Currently, the United States is short 11 million jobs in the economy. That is a lot of ground to make up and economists predict the United States needs to nearly triple the current job growth to 300,000 a month, and have it constant there for 37 months to get back to the pre-recession rate. Lets hope it doesn't take that long, for graduates' sake everywhere.
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Well, unemployment is a lagging indicator, so it's probably a good sign for the economy overall that 4-week jobless claims have fallen. Yet, those rates don't seem to be falling fast enough to make a dent in the job crisis. I guess we'll have to sit tight and see.
ReplyDeleteIt is definitely a good thing that jobless claims have fallen. Hopefully, they continue to fall and at an increasing rate, because at the current rate it would take years to get back to the unemployment level before the current recession.
ReplyDeleteLooks like it is going to be a slow but a much-awaited return to normalcy for the economy. It is interesting however that job claims have fallen as this does not merely constitute a fall in the unemployment rate which may be due to discouraged unemployment. So, I guess this is a great sign. Lets wait and watch!
ReplyDeletei agree with all the above comments its a good sign and all we have to do now is wait for more jobs to be created. Slowly but surely.
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