Far fewer people are seeking unemployment benefits than just three months ago %u2014 a sign that layoffs are falling sharply. The number of people applying for benefits fell last week to 366,000, the fewest since May 2008. If the number stayed that low consistently, it would likely signal that hiring is strong enough to lower unemployment.
Initial jobless claims dropped by 34,000 to 407,000, much lower than expected. The numbers suggest that the labor market is slowly improving, and nearing the point of reversing the negative trend driven by the deep recession.
Two consecutive months of sales gains among the nation's retailers may provide just enough confidence to trigger increased seasonal hiring this year. Even so, pre-recession hiring levels aren't likely.
For married couples of opposite genders, the downturn's inordinate impact on men has resulted in an increasing number of wives becoming the primary breadwinner. Surprisingly, many men don't mind at all.
The recent stream of modestly positive economic news means the Fed probably won't take any further action to stimulate the economy at its upcoming meeting. But nobody is calling the economy healthy yet.
A fresh batch of data show that the job market may finally have turned the corner despite last month's uptick in the national unemployment rate to 9.6%. Among them: Fewer initial claims for unemployment and a smallest monthly layoff total since June 2000.
With his health care insurance overhaul sidelined for the time being, President Obama has turned his focus to lowering the nation's stubbornly high unemployment rate. For millions of jobless Americans, that shift comes none to soon.
Numbers show that men have borne the brunt of layoffs, in turn boosting the percentage of women in the workforce. Having made steady gains in employment since the 1970s, women now stand to overtake men as the majority of the labor pool.
Congress gave recently laid-off workers a holiday gift by extending for six months a subsidy to help them pay health-insurance premiums. It now lasts a total of 15 months, and eligibility for it lasts 60 more days, through February 2010.
