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Unemployment

by FinanceCookies - January 27th, 2012.
Filed under: Uncategorized.

The Labor Department released some encouraging news this week. Apparently, the number of people that are filing for first time unemployment has been progressing in a downward trend, even though there was a spike this week.

The week of January 21st had 377,000 people filing for first-time unemployment benefits. This is a 21,000 person increase from the week before.

“A clear increase this week was in the cards,” Ian Shepherdson, chief U.S. economist with High Frequency Economics said in a note to clients. “What counts, though, is the trend, not individual weekly observations. And the trend is clearly downward.”

Throughout the worst times of this recession Unemployment Offices in the United States were filing as many as 659,000 individual’s paperwork for first-time unemployment benefits in a week.

Although we are making progress, there are still millions of Americans that remain jobless.

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