Markets began showing early signs of a rebound Friday allowing some investors to end their week on a high note.
This update comes with the latest release of positive news from Washington that shows unemployment rates have recently gone down to a record, post-pandemic low of 684,000. This marks the first-time unemployment numbers have fallen below 700,000 since what most people consider the start of the pandemic in March of 2020.
Officials do admit 684,000 is still a pretty large number of unemployed Americans, but presently, Washington isn’t in any position to ignore even the slightest signs of recovery… Especially when the previously reported unemployment number hit the much higher rate of 781,000 applicants.
The American Worker
While these reports may please officials in Washington, the average unemployed American doesn’t care about statistics. They demand results! And, despite this hopeful news, these individuals can’t help but wonder when they can expect these good numbers to be reflected in their own day-to-day lives.
Many citizens today have struggled to gain employment for a period of 6 months or more and are concerned that the longer they stay unemployed the harder it will be for them to appear valuable to a potential employer in their initial hiring stages. As disappointing as this news may be, these are, in fact, legitimate concerns as data exists to back up such claims. Add to that the stats showing that overall unemployment numbers improve slower than the economy as a whole and you have a better understanding of why, despite the latest reports from Washington, there are many unemployed Americans who still find themselves having a sleepless night or two.
For anyone who has had the misfortune of being unemployed for any extended period of time, it is no secret that it can often be difficult to get your foot back in the employment door. It’s commonly said that “Finding a job is a job in itself” and there are many Americans who can attest to that fact at this very moment.
We may indeed be showing early signs of economic recovery, but officials are right to acknowledge that there’s still a long way to go to, not only get the overall economy back on track, but the American worker as well!
The Latest Market Insight
It’s the job of a good investor to keep up on the latest economic developments so they are able to make knowledgeable and quick financial decisions when the time comes. You’ve read the article, now find out what this news means for you and your investments in the latest edition of ASK THE PROS.
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