Each week, jobless claims have been lowering. It could mean one of two things: individuals submitting jobless claims are tired of completing the same paperwork with minimum results or layoffs are finally back at Pre-Great Recession levels. Economists would like to choose the latter.
During the Great Recession, more employees than standard were victims of the economy. Employers cut their payroll, increased responsibilities, and stretched products.
Today, economists are seeing a reversal of numbers and behavior to levels prior of 2008.
“Thursday’s jobless claims report also showed that about 3.1 million people filed for their second week or more of unemployment benefits two weeks ago, the most recent data available.”
It seems the economy is finally moving into the right direction. Before optimistic employees begin to celebrate, one must consider the reasons the recession began. As jobless claims lower, employers retain employees, and individuals are once again employed, it should not comprise spending money and relying on credit.
Bahiyah Shabazz is one of the nation's leading financial experts on the art of maximizing growth, entrepreneur, personal wealth expert, and author of "Spending fast: Clean up your finances in 5 days" and "Finances are linked to emotions: live within your means". Bahiyah Shabazz is also a motivational speaker, columnist, and radio host. If you have questions or topic suggestions please email: contact@BahiyahShabazz.com.