National Unemployment and jobs news review today December 13, 2013:
Recent jobless claims and unemployment data is mixed in the U.S. which makes it difficult to determine if recovery trends remain consistent and stable. The Feds have reported that once economic growth and recovery appears consistent and stable, stimulus tapering will begin. After the November jobs report posted last week, speculation increased that the Feds might soon move to draw back economic stimulus measures, but jobless claims this week rose higher once again.
According to the Labor Department, the national unemployment rate dipped lower to 7.0 percent. The drop in the unemployment rate was good news and implied that more Americans were getting back on a payroll. This week though, the Labor Department reported a significant surge in jobless claims. According to this week’s report, jobless claims rose from the relative low which posted the week prior to a two month high of 368,000. Jobless claims rose higher by approximately 68,000 in the latest reading. So, despite the unemployment rate being at a five year low, jobless claims appear volatile. Americans are still in need of federal jobless benefits and look to the President and Congress for extensions. Unless congress moves to extend jobless benefits soon, over a million U.S. citizens will lose their jobless benefits on December 28. Democrats in Congress push for an extension before the end of 2013 but, if the extension does not occur, Democratic representatives vow to continue the fight in 2014.