US jobless rate falls

Following the recent stability in the cost of living in the US, more good news follows in the form of reduced unemployment figures as initial jobless claims have declined by 16,000 to 461,000 in the last month.

The latest figures indicate the pessimism in the country as the estimates for jobless claims ranged from 445,000 to 500,000, however most economists had predicted a reduction of some scale.

It is a sign of the times though that unemployment levels of this kind are being celebrated at nearly half a million ,when in prior years it hardly touched the 338,000 mark.

Part of the reason for the decline is that the claims in Louisiana are no longer being fuelled following the aftermath of last month’s storms.

On the other hand, 12,000 claims in Texas were still pointed towards job losses related to the hurricanes and that does reveal the uncertainty and distribution of the reduction in claims as the data actually showed that claims actually increased in 42 states and only fell in 11.

Ironically the three states that are hotly being contested as a result of the election are the ones that pushed the claims and statistics up with claims from Ohio, Michigan and Florida being one of the highest.

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