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Jobs data shows slight improvement, but labor market remains weak

This week, continuing jobless claims fell. The change was slight, but it is still providing some hope that the worst of the recession may be over. However, initial claims increased again this week, somewhat counterbalancing the positive effects of the continuing unemployment decrease.

Even with the drop, though, it is clear that the labor market is weak. The unemployment rate is still at a multi-decades high. Getting the jobs market moving in a different direction is considered a priority for the economy. Without jobs, consumers have nothing to spend to help the economy. Additionally, a weak labor market finds it difficult to pay the mortgage, affecting the housing market — another cornerstone of the economy.

See Also

• U.S. Economic Data
  News and information on the U.S. economy