The unemployment rate remains unchanged, despite reports recently indicating that jobless claims dropped. Fewer jobless claims have given hope to some who feel that the employment sector may slowly be on the rebound and as these claims begin to drop it will point to and, ultimately, lead to a recovery in the job market. Yet, with the unemployment rate remaining the same, along with other economic problems, many are wondering when the employment situation in our nation will truly improve.
Unemployed men and women have up to 99 weeks of unemployment benefits which they may be able to take advantage of, but there are still calls for a tier 5 unemployment benefits extension due to the fact that many unemployed individuals have been unable to find a job opportunity. While these drops in jobless claims have some feeling optimistic, there is concern since other reports indicate the private sector lost jobs in September.
Some reports indicate that around 39,000 jobs were lost in the month of September, which is a let down since there had been gains in the private sector over the past few months. Unemployment has caused problems in areas like housing and, since consumers and homeowners who have no income cannot contribute to the economy, there are other difficulties that have been created due to the lack of jobs.
While some unemployed individuals are, again, using these losses in the private job sector as another reason to pass a tier 5 unemployment benefits extension, there are those who feel that since jobless claims are dropping this will be unnecessary. However, there are those who argue that the reason jobless claims are dropping it simply because men and women are exhausting their unemployment benefits and may no longer be counted in this number.
Unemployment remains a problem for many across the nation, despite a reduction in jobless claims. While there are some optimists who feel that recovery, while slow, may be at hand, there are those who feel that more needs to be done through job creation initiatives, unemployment benefits extensions, and assistance through programs like home loan modifications, so that prolonged unemployment will not continue to create troubles in other economic areas.