Fewer Americans file for unemployment insurance

According to the Labor Department, the number of Americans filing for unemployment benefits fell last week indicating a minuscule improvement in the employment sector. Claims fell from 438,000 from the week before to 421,000 (a 17,000 drop). While the numbers indicate that there is SOME improvement, it is not sufficient enough to illustrate a change in the economy. According to certain economists, in order for there to be a positive trend in the economy, unemployment claims need to go below 400,000 per week. Moreover, employers are still hesitant to hire more employees as consumer forecasts for the next year are still hazy at best.