The U.S. economy has showed even more signs of strengthening. The amount of people who were claiming unemployment benefits declined so far during the month of February. Economists forecast that during the month of February there would be 293,000 people who would file for unemployment benefits. The labor market has gotten stronger and beat the prediction because only 283,000 filed for unemployment benefits. These are great signs that the economy continues to recover and the labor market continues to grow while the unemployment rate continues to drop. There are several factors to the economic growth of the country, for example the U.S. dollar continues to become stronger in value. It will be interesting to see in the labor market continues to trend positively. Hopefully, the economy can continue to show signs of a strong recovery from the recession.
Article Link:http://www.nytimes.com/2015/02/20/business/economy/jobless-claims-fall-as-us-economy-gains-strength.html?ref=international&_r=0
2 comments:
More than 1 million jobs have been added from November '14 -January '15, and this has been the strongest three month pace in the past 17 years.
In addition, more than 3.2 million jobs have been created, which has lowered the unemployment rate from 6.6% to 5.7% within a year.
Thus, the graduating seniors are fortunate to enter the workforce at a favorable time.
This increase in jobs is showing how the economy is becoming stronger. While I think it is good that the unemployment rate is going down, I question if this is because some states have changed their allowance for benefits, in that people can not claim the benefits as long.
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