Anyone else feel like we’re on a see-saw? Unemployment goes up, then it goes down, then it’s back up again, and today it’s been reported that the number of new jobless claims filed, as well as the total number received, are down. While this is most definitely good news, it’s too early to say that the job market has begun its recovery. Yes, many analysts are beginning to assert that the U.S. economy is on the upswing, on the road to a glorious comeback. However, there’s little doubt that the job market will lag behind other economic indicators.
So what does the dropping number of jobless claims mean? Is it, in fact, meaningless? Well, no. According to CNNMoney.com, what will probably happen is we’ll see jobless claims hover around this number for a while. No one’s really started hiring yet; once that happens, things will really start to pick up. But it’s coming. Be ready.
Lastly, on a sad note, Senator Ted Kennedy passed away yesterday; he served his country with honor and distinction, and should be remembered for his countless contributions.