Unemployment Benefits Applications Mark Six-Week Low

Although the monthly unemployment report won’t get released until tomorrow, there’s something already to cheer about.

The number of people filing for first-time unemployment benefits fell to a six-week low, as pointed out by The Daily News.

Technically, as per the Labor Department, there were 374,000 initial claims last week which decreased from 380,000 the previous week.

Perhaps this means there will be an uptick in the economy as hiring is in the future; as pointed out by the newspaper, the number of people who apply for unemployment benefits usually indicates the pace of layoffs themselves. A number below 375,000 means the unemployment rate is dropping.