Despite the great hope and prayers of many in the Democratic party, jobless claims are coming down. I will qualify my statement "many in the Democratic party" by saying, I don't believe most Democrats hope for the worst but the ones on TV sure do. For those of us who put country over political party this is encouraging:
Economists believe the worst of the layoffs is over. Claims hit a high this year of 459,000 in the middle of April and have slowly drifted downward.
but some words of caution:
Even as the economy grows, it will still take time for the labor market to fully turn around, economists say. And, an influx of job seekers motivated by an improved economic climate could cause the unemployment rate to rise in the months ahead if job creation isn't strong enough, economists say.
Posted by Tim at November 20, 2003 09:33 PM
