The number of Americans claiming unemployment benefits in the month of March fell. Seasonally adjusted, it fell to 346,000. There is hope that this signifies a betterment in employment figures. The overall unemployment level did fall to 7.6% but the number of jobs added was a paltry 88,000 compared to the four-month average of 220,000. While the fall in claims could signify that April may boast higher employment figures, it could also mean that there are simply more discouraged workers. There are also concerns about growth.
http://www.guardian.co.uk/business/2013/apr/11/us-unemployment-claims-fall
http://www.guardian.co.uk/business/2013/apr/11/us-unemployment-claims-fall
3 comments:
This is a small but positive sign for the economy. As we all realize, the climb out of this recession is going to be slow and steady.
I do not think we should apply much weight to the numbers. If you looked at the data for unemployment claims for the past year you would see basically a zig zap as claims have risen and fallen. I think this signifies that individuals and businesses do not know what to expect and that employers are not making big hiring decisions until we can be certain that things will improve.
I agree with Viny. Numbers in this area could point to many different things. While it could signify growth and improvement, it may also be a fluke as businesses try to figure out what is going on. As I am reading in a book for Labor Economics (Race Against the Machine), while jobs are being created, there are hardly enough to account for increases in the population, let alone enough to get people back into the labor force after recent layoffs.
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