It may just be the sign we were looking for to give us hope that the job market might be turning around. According to a report in CNNMoney, unemployment claims have fallen again this week, making it the third week in a row that the number of Americans filing for their first week of unemployment benefits has dropped.
The number of new claims has gone down to 420,000 in the week ending December 18th. This is down from 423,000 claims the week before. What makes these numbers seem even more hopeful is that they are hanging at a lower level that in the previous months. This means that the number of people finding themselves out of work is lowering, and that is a good thing.
Over the past year, the number of new claims has been stuck between 400,000 and 500,000, but over the past few weeks, that average has been inching lower and lower. Although the progress is slow, it is still a good sign. It won't be until the number dips lower than 400,000 that financial experts will become more optimistic about the shape of the job market and the economy.
Unemployment numbers are still at an all time high, but it is starting to look as though the mass layoffs may be coming to an end. The U.S. Department of Labor said that 4,064,000 people in total filed for their second or more weeks of benefits. Of course, this number only counts the people who are receiving benefits during the standard benefit interval, which is 26 weeks. After that, they are moved on to state or federal extension plans and aren't counted in with these numbers.
Additionally, the numbers don't account for the unfortunate people who have seen their benefits run out and still haven't been able to find a new job. But, hopefully, this decrease in newly unemployed may be the first sign that things are getting better and that the job market can make a comeback. For the millions of people who are unemployed this holiday season, I certainly hope so.
What do you think about these numbers? I would love to hear your thoughts in the comments.
Are you looking for a job in Manufacturing? Be sure to visit ManufacturingWorkers.
By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer, along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.
Become a member to take advantage of more features, like commenting and voting.
Register or sign in today!