Finding good news when it comes to the United States unemployment level requires extremely low expectations. Last week jobless claims showed an increase, but economists expect the numbers to be higher. Employment has been growing steadily as the number of people filing for joblessness insurance has held steady, however insufficient to budge the 9.6 percent United States joblessness rate.
The unchanging joblessness level
Just last week, there was a huge change in jobless claims, reports the Labor Department. It went up 2,000 to 439,000. The lowest figures within the last 2 years were shown within the past four weeks since there have been less than 440,000 people a week filing for joblessness insurance, report the Association Press. There was an average 4.2 percent decrease in the last month as the average number of jobless claims went lower 16,000 to a 443,000 a week average. According to AP, the trends are a signal that more people are getting employed than fired. Economists explain that the unemployment rate will stay the same unless jobless claims go below 425,000 a week.
The plight of the jobless
In the week that ended November 6, 48,000 individuals stopped claiming joblessness although hundreds of individuals each week keep filing jobless claims. They did not have to get employed exactly. Joblessness benefits expired for concerning 121,000 individuals at the end of October. They all moved to the federal joblessness extension program. Advantages from the emergency extension program will expire when Nov is over. This means 2 million people will lose them. Within the next few months, another 2 million will supposedly lose advantages. Congress probably will not pass another federal joblessness extension. Those individuals can be out of luck.
Insufficient clarifications given through statistics
Economists keep close track of weekly firings within the form of Jobless claims as the numbers used to be a consistent indicator of economic recovery when they drop. There is no longer a relationship during this economic recovery though, Bloomberg accounts. Companies added 159,000 jobs in October, the fourth straight month more than 100,000 jobs were created. Yet some businesses continue to lay off workers while others are hiring. There were 11 states that reported a decline in jobless claims while 42 reported otherwise. There is nevertheless a 9.6 unemployment rate that won't change though and that is the fact that could be continually remembered.
Articles cited
Associated Press
google.com/hostednews/ap/article/ALeqM5hog5HM6YtSPvQ1KRg8oIM4BznnEA?docId=4c61b3bcd52d492c8347b0c63629c446
Bloomberg
bloomberg.com/news/2010-11-18/jobless-claims-in-u-s-increased-less-than-estimated-to-439-000-last-week.html
Forbes
forbes.com/2010/11/18/jobless-data-retail-markets-equities-spending.html?boxes=marketschannelnews
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