Thursday, March 29, 2012

Continued Strength in Labor Market Fuels Economy

Don't look now, but the economy is beginning to surge. The number of people filing for unemployment benefits once again set a four-year low last week.

The Labor Department reported that, in a country of 300 million, 359,000 people filed for initial claims, down from the previous four-year low of 364,000 set last week.

Many economists see the four-week moving average as a better indicator of the health of the job market.  That average fell to 365,000, also a four-year low, confirming the weekly drop.

There has been a net gain of 245,000 jobs per month for the last three months, the best three-month increase in five years.  The unemployment rate has come down sharply from 9% to 8.3% in just five months.

The Business Roundtable, a group consisting of the CEO's of the nation's major companies, said that 42% expect to add workers in the next six months, another healthy sign of a growing economy.

For those that say, "Yeah, but the jobs are low-paying jobs", it is good that they are finally waking up to the value of Union jobs.  Unions fight for you and against your employer.  Without them, you're on your own and can be laid off merely because your boss doesn't like you.  The truth is if you want a high-paying job with great benefits, you need to form a Union with other like-minded employees.

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