New Claims for Unemployment Benefits Fall

New claims for unemployment benefits fell last week. The drop to 233,000 is good news and an indication that companies are not reducing their workforce.

Late summer is an interesting time of year for employment in that summer jobs start to wind down and come to an end. Analysts state that the interesting fact this year is that many companies did not hire as many summer employees as previous years. This means that fewer will be laid off as the season ends.

Strong Gains in June Jobs Report

The U.S. economy added 222,000 jobs in June, more than anticipated. April and May reports were revised upward to 207,000 and 152,000 respectively. According to the Bureau of Labor Statistics, during the first six months of this year the economy has added over 1,100,000 new jobs.

The unemployment rate ticked up a tenth of a percent to 4.4% which is steady, if not slightly good news. More people are re-engaging in the labor market as they look for employment (which affects the unemployment rate). In the course of time, there should start to be a rise in the labor participation rate which has been at historic lows for an extended period of time.

For job seekers, the trend of job creation is positive news. The jobs market is healthy and for those that have the requisite skills needed by employers and execute an effective job search strategy, opportunities are available and can be found.

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