Monday, February 20, 2012
Jobless claims plunge to nearly four-year low
Jobless claims has dropped to a four-year low, last week. unemployment claims totaled 348,000 in the week ended feb. 11, which is significantly less than predicted forecast of 365,000. Economists say that an improving job market could be the beginning of a new trend. But, despite a seeming improvement, recovery is still threatened by economic instability overseas, like European fiscal turmoil and unrest in an oil-rich middle-east region.
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2 comments:
I think this is definitely an important milestone as the economy recovers from the recession. However like the author mentioned at the end of the article, there are still major obstacles ahead both domestically and abroad. There is also still major underemployment currently in the US that will need to be addressed before a full recovery can be made.
As we learned from class but the public may not know, the economic recession has already passed, but the unemployment rate would not recover instantly. Plus the foreign crisis talked in the article, it is understandable that the unemployment rate is still high.
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