WASHINGTON (AP) The number of people (click here) seeking unemployment aid plunged last week to the lowest level in almost 15 years, a sign hiring will likely remain healthy.
Weekly applications dropped 43,000 to a seasonally adjusted 265,000, the Labor Department said Thursday. That is the lowest level since April 2000. It is also the biggest decline in two years. The four-week average, a less volatile measure, fell 8,250 to 298,500.
The latest drop may have been exaggerated by the federal holiday, which likely slowed the processing of some claims.
Still, applications are a proxy for layoffs, so the sharp decline means companies are cutting fewer jobs. The four-week average has fallen 11 percent in the past year. At the same time, hiring has picked up. Employers added almost 3 million jobs last year, the most since 1999. Strong economic growth has encouraged companies to add more workers....
Graphics: Tracking U.S. Monthly Unemployment (click here)
Let's see if others can follow the trend of how the Middle Class provides the basis of a strong economy. Once the trend begins by added funds in government spending it then takes on exponential growth characteristics in people returning to work as there is a higher and higher demand on services. This will happen in China and India and any other third world country that creates a path for the Middle Class. And the best part is when benevolent leaders begin their support of a strong Middle Class economy, they will be loved by their people.
