The U.S. Bureau of Labor announced this week that jobless claims remained almost unchanged from last week and worse than economists’ predictions. As a result, there is growing concern that the job creation we saw earlier this year may be short-lived. Jobless claims have been above 385,000 for three weeks in a row—making it the first 3-week streak since November! They are getting awfully close to the 400,000 level, which is generally considered the line for determining whether job growth can raise or lower the unemployment rate. A three-week pattern tends to suggest that the firing slowdown may have ceased for the time being. Still, there are plenty of hiring employers, so don’t give up! April’s unemployment figures come out next Friday, so let’s hope for better news!
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