February Brings More Jobs, Less Unemployment Claims
The month of February brought the best jobs report in nearly four years, showing increased gains in employment, partially due to the growth in the housing market. While nearly 236,000 jobs were added last month, approximately 48,000 of those jobs were found in housing construction. While these continue to be tough economic times, the increased job growth suggests growing opportunities and a slowly recovering economy. The unemployment rate is now at 7.7%, down from 7.9%.
Although many are encouraged by the declining rate of unemployment and subsequent rise in job opportunities, other economic forecasters remain cautiously optimistic.
Other possible reasons for the lower unemployment rate could be due to the fact that less people are actively looking for employment and may have given up on finding job opportunities.
Stil, with lower unemployment insurance claims, an increase in auto sales and a growing housing market, the economy appears to be slowly improving.