Unemployment Continues to Fall

With the economy continuing to grow Americans filing for unemployment benefits fell to its lowest number in the past 41.5 years this week. The total number of Americans filing fell to 255,000 which is the lowest amount of applications since 1973. This number is down 26,000 from the previous week which shows very positive growth for America but the author of the article points out some flaws in this number. The author talks of how this number could be skewed as he says ,” last week’s drop likely exaggerates the strength of the labor market as claims are volatile during summer when automakers usually shut assembly plants for annual retooling.” The author then goes on into deeper discussion on this point that automakers varying summer schedules can affect the amount of jobless claims. The author when explaining this idea includes many statistics and a graph to help show his logos on the topic. The author then goes on to use many different measures of unemployment and job production to show that while the unemployment rate reaching a low is a very good sign we cannot look at it as the only measure of how the economy is doing. While the author does use many valid other statistics and points I believe the unemployment drop should be viewed very positively and we should value this period of low unemployment.

 

http://www.cnbc.com/2015/07/23/us-weekly-jobless-claims-for-july-18-2015.html

3 comments

  1. Good job relating the topic directly to its economic effects. This definitely mirrors what we’re discussing in our econ class. You also had a good style and the article was presented well.

  2. I liked the topic you chose! The statistics were very helpful. It lets the reader really identify what’s going on!

  3. This was a great post! I liked how you incorporated the topic of unemployment that we were discussing in economics class. I also liked your opinion that you included at the end!

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