unemployment

The rate of unemployment in the U.S has been a major concern in the country. However, this year, data on jobless people is showing that the country unemployment rate is going down. Jobless claims have reduced by 43,000, and this is the lowest number of jobless claims since 2000. The figures are strengthening the U.S economy and giving consumers more confidence. It is an indication that companies have stopped downsizing as the economy is improving. It also indicates that consumers spending have increased, and this has increased production creating more jobs in the economy

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In addition, the reduction in oil prices has been a major boost to the economy, and it has contributed to the improvement in the job market. Based on the performance of the economy, the rate of unemployment is likely to continue reducing throughout the year hence the assessment of the article is clear indication of what to expect this year in the job market and consumer spending.

References
Jamrisko, M., & Glinski, N. (2015, January 29). Jobless Claims in U.S. Plunge to 15-Year Low.
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