New Jobless Claims in the US Slides down This Week

Summary: Less Americans are now filing for jobless claims, the US government said citing the latest data.

It was the lowest since April 2009, which gives the impression that the recession has finally bottomed down and that the economy is making progress.

A latest data from the US government released on Thursday showed that new jobless claims has slide down week showing signs that the economy is well on its way back to recovery. It was the lowest since April 2009, which gives the impression that the recession has finally bottomed down and that the economy is making progress.

The number of unemployment claims is one of the key factors in the economy that shows how well the businesses are doing. To date, only 570, 000 new claims have been filed to government institutions.

Economists have projected this week’s claims by as much as 565, 000 while last week’s number reached to about 580, 000.

But the continued claims filed at government offices still has a long way to go as some 6.133 million Americans are still continue to struggle to find new jobs. Although, government officials said that the data is a welcoming sign for development, saying that it is slightly lower the 6.252 million a week before.

Officials also said that it is the lowest number of people who filed unemployment claims since April 4, 2009 when some 6.045 million jobless filed for their claims.

The government also expects a steady development in the labor market as government programs such as stimulus packages for the automobile industry began to work its magic.