Things are lookin’ up.
The good news? The number of Americans applying for unemployment has dropped by 42,000 in the last week alone! That’s the biggest drop since November 2012.
The bad news? Per the Associated Press, economists indicate the numbers aren’t exactly accurate since November and December data are impacted by the holidays.
And in context, claims apparently skyrocketed by 75,000 for the two weeks prior to December 14 before dropping last week. We can pretty much attribute the plunge to seasonal hiring due to the holidays and other businesses.
Back to the good news — the piece points out decreases in unemployment claims reflect a solid job market. Plus, the unemployment rate from November at seven percent represents a five-year low. Yes, it’s still slightly above the five to six percent rate indicative of a normal job market but for now, we figure seven is certainly better than eight or even nine!