Less People Relying on Unemployment

Less people are relying on unemployment benefits. This information shows that the job market is beginning to strengthen and grow, especially during a time when the United States is in a recovery period. Unemployment was, at one point, at an all-time high because of the recession, which lasted for two years but put the economy in turmoil.

There were 14,000 fewer applications put in for unemployment than before, which puts the number of unemployed individuals on unemployment at about 351,000. This information was provided by the Labor Department. The new information sows that this is the fewest number of unemployment applicants within the past four years which is definitely something for the state to be happy about. Within the past few months, the number of applicants for unemployment seemed to decline little by little which shows that the economy for the entire United States is getting better.

The lower unemployment rate is believed to be due to the amount of jobs that are being added. Throughout the months of December up until February, at least 245,000 jobs were added each of those three months. With so many jobs being created, more people are finally able to find the employment they have been seeking, no longer having to worry about relying on unemployment for assistance. This is definitely a good thing because there were so many people who were put out of work during the recession. Hiring seems to be strong at this point, helping to keep the unemployment rate lower.

With employers adding so many available jobs, people are finding work and the unemployment rate has reached 8.3 percent, which is the lowest it has been for the past few years. And, with lower unemployment rates comes lower applications. More jobs have been created because the economy is getting stronger than ever before. The recovery seems to be going and well and the consumers are starting to get confident again. More consumers are shopping more frequently and purchasing new automobiles. The stock market is also doing well. With such improvements being made, even those who were discouraged before are beginning to have faith in the economy and the recovery.

It is expected that the unemployment rate will continue to decline. Some people are worried that if gas prices rise, consumers will have to be more careful about how they spend. However, it is expected that the prices of gas will likely stay stable. While the economy is improving, the recovery process is still in full effect. There are still many unemployed individuals who are looking work and there are still many more jobs that need to be created in order for the United States to go back to the way it was before the recession occurred.