Weekly Unemployment Number Improving

This news will be welcome to many who are recovering from their financial difficulties. High unemployment and large numbers of people out of the work force tell a story. Jobs have been difficult to find in the last few years. New numbers offer hope for those seeking employment.

First, there is this headline from the American Bankruptcy Institute: “Weekly Initial Unemployment Claims Decrease Slightly for Week of July 29.” You can find the whole article here. In addition, the source of the graph and the ABI article is here.

In more good economic news, the numbers of those filing bankruptcy continue to remain low. The United States Courts latest statistics are from June 2017. The U.S. Courts are reporting that the number of bankruptcies filed is down 2.8% from last year. This is in part due to the fact that the years of recession, the worst of which occurred from 2008 to 2010, forced many into bankruptcy and flushed many bankruptcies through the system. Thus, low bankruptcy numbers are better suited to confirmation “things are not getting worse.”

labor shortage in construction trades

These reports support White House announcements about the numbers of jobs created in the six months. The Department of Labor issued a press release which calculates the numbers of new jobs created in the last six months exceeding 1,000,000.

Construction companies search almost desperately for employees. This has been covered in numerous stories by major media outlets for more than a year. Forbes covered this story in an article from April of this year. Regional companies, such as Oswald, a company based in Cincinnati, Ohio, also continue to write about the labor shortage in the construction industry.

All in all, it looks like employment prospects are good for old school employment. That is, if you are ready to work in construction, in a trade, in a job where things are made, you should have no trouble finding work. Shortages like the ones described also tell you that it is a good time to hire on even if you lack experience. In other words, the work is there and there are companies willing to train and teach good young prospects.