Unemployment Claims Fall

We have heard that the recession has come to a technical end. But many have been waiting for other aspects of the economy, such as jobs, to catch up. While the jobs market has a long way to go, there are signs of stability appearing. And one of them is the rather large drop in initial unemployment claims this week.

Advance data for the jobs report has been released, and it appears as thought jobless claims have fallen well below the expected 500,000 mark to 466,000. While this still indicates that jobs are being lost, the pace is slowing, and there are some hopes that the situation could ease considerably by the middle of next year.

In addition to that news, it also appears that personal spending rose in October. This is another indication that people are starting to feel a little more comfortable with the situation. However, once the holiday season is over, it will be interesting to see whether or not the current feelings of optimism remain.