Sunday, October 24, 2010
U.S. weekly jobless claims drop 23,000
According to this article, jobless claims have fallen 23,000 to 452,000 last week. Accordingly, some believe this is proof that our recession is still present. According to the article, "A serious decline in claims (of joblessness), in our view, depends on a return to better credit conditions for small firms, which we expect to emerge only gradually over the next year or so."
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2 comments:
It is no doubt that the economy is steadily progressing and the decline in claims is a good sign. However, the data can be seasonal. The jobless claims are bound to rise again around May during the graduation period which will again skew the data.
I agree the economy is definitely picking up in most areas. This means that small and large businesses are doing better as well. Now people will have more disposable income to pay off some debt and to get the economy moving again. The recession is still present and will take some time for the economy to completely recover, but it is improving.
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