Every week the government releases the jobless claims report. This provides the total number of people filing for unemployment benefits across the nation. It is considered a leading economic indicator. Last week it fell by 10,000 to 206,000. The number has been in a downtrend for several years. It is amazing that the U.S. economy has the lowest unemployment rate in almost 50 years and this week’s jobless claims indicates that it is going to stay that way.
Not everything is as upbeat as the unemployment rate and jobless claims might suggest. There are a few signs that employers are starting to cut back their new hires and a recently released survey showed manufacturers have posted their slowest growth in 10 years. On the other hand, the service sector looks to be improving slightly.
The economy is doing well despite signs of weakness in certain areas.