With how gloomy the economy and more specifically the job market has been looking, we’ll take all the good news that we can scrounge up! And it appears as though some of the recent good news leaking from the Labor Department this past week is just what the doctor ordered.
This past Thursday, the Labor Department reported that the number of Americans filing first time claims for unemployment benefits fell by 21,000 last week. In comparison, this number may not seem like something to write home about, but it is the biggest drop since mid April, and that is good news.
Also, they are reporting that continuous claims fell as well, by 224,000; which is the lowest it has been since November of 2008. They say that, generally speaking, this is a positive sign for the economy,however there is still a possibility that the dropped number might be caused by unemployment benefit expiration. For now,we can only hope for the best.
Such numbers are reflecting that they are moving in the right direction, though we are warned to not yet get our hopes up that these numbers indicate that the job market is in a sustained recovery; there is no telling what the future holds just yet. Many are still struggling to get ahead, though, at least for the moment, there is perhaps more light shining through the end of the tunnel.
