This week and for the past 4 weeks the United States has seen a consistent and significant drop in unemployment claims as a whole. This is absolutely great news because unemployment is essentially the primary factor that shows whether the economy is recovering or not and many experts say this is a great sign of what is to come in 2014.
Obviously unemployment claims are not the end all deciding factor for economic growth but as a whole this is great news simply because it means fewer people are struggling to find work. Over the past 5 weeks the country has seen around an 11% drop in unemployment claims which is quite significant according to most experts. As the holiday season approaches many analysts are hopeful that this trend will continue and unemployment will continue to drop for at least another month or two, if this does happen 2014 will likely be a great year in terms of economic recovery.
On top of lower unemployment rates the economy has also seen significant increases in consumer spending, which indicates once again that the recovery is strong and alive. This holiday season is definitely going to be a turning point for the economy and if things continue the way they’re going it’ll be very good news for the world economy as a whole.