LoginWhile there have been recent signs of a steady recovery regarding employment levels in the United States, other indicators also show that times continue to be tough for many.
The Labor Department stated that the number of applications for unemployment benefits reached a seasonally adjusted 388,000, as 46,000 more people sought the financial assistance from the government. The news comes after a shift from last week, when the total fell significantly. The Associated Press reports that part of the reason for the higher number of applications is due to the fact that more had been processed after delays.
Some economists say that there is still plenty of reason to hope that a major recovery will take place.
"Though still struggling, the U.S. labor market appears to be making headway, and we should see a modest improvement in October … payrolls," Sal Guatieri, an economist at BMO Capital Markets, said in an email obtained by the source.
Additionally, while last week's data was thought of as a negative indicator, some remain optimistic nonetheless for other reasons. In September, the Labor Department announced that the unemployment rate fell to 7.8 percent, the lowest number seen since early 2009. There were a total of 114,000 jobs added, with manufacturing accounting for 16,000 of those new positions.
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