Celebrate! We Just Hit a Key Jobs Figure

More

Europe might be headed for a recession. China's growth looks like its slowing. The Middle East is, par for the course, in turmoil. And somehow, like a horse with with a particularly effective pair of blinders, the U.S. economy is pushing ahead along the road to economic recovery.

Today, the Labor Department announced that new jobless claims had fallen close to a four year low -- with 348,000 Americans filing for unemployment benefits. That's remarkably close to the 344,000 jobless claims that were filed the week of December 1, 2007, when the recession started. The four-week moving average was as low as its been since March, 2008.

4_Week_Average.png

Economists polled by Reuters and Bloomberg had actually predicted that unemployment claims could rise. Instead, we got a pleasant surprise that reaffirmed that the U.S. economy is getting its footing. And as Reuters notes, when jobless claims fall below 350,000, it's usually a sign of sustainable employment growth. As long as the numbers stay around here, or drop further, the U.S. labor market should be in good shape.

Assuming the rest of the world doesn't get in our way, that is. 


>

Jump to comments
Presented by

Jordan Weissmann is a senior associate editor at The Atlantic.

Get Today's Top Stories in Your Inbox (preview)

Why Do People Love Times Square?

A filmmaker asks New Yorkers and tourists about the allure of Broadway's iconic plaza


Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Why Do People Love Times Square?

A filmmaker asks New Yorkers and tourists about the allure of Broadway's iconic plaza

Video

A Time-Lapse of Alaska's Northern Lights

The beauty of aurora borealis, as seen from America's last frontier

Video

What Do You Wish You Learned in College?

Ivy League academics reveal their undergrad regrets

Video

Famous Movies, Reimagined

From Apocalypse Now to The Lord of the Rings, this clever video puts a new spin on Hollywood's greatest hits.

Video

What Is a City?

Cities are like nothing else on Earth.

Writers

Up
Down

More in Business

Just In