Unemployment Situation Improves Slightly
The number of initial unemployment claims for the week ending June 25 declined to 428,000, a slight change from 429,000 a week earlier, according to the U.S. Department of Labor's unemployment insurance weekly claims report.
The four-week moving average for initial claims still had an increase of 500 in the most recent report, and stood at 426,750.
Results for the insured unemployment rate decreased 0.1 percentage point when seasonally adjusted, for the week ending June 18 - for a rate of 2.9 percent. The figure for insured unemployment for the same time period was 3,702,000, declining 12,000 from one week earlier. The moving average for the past month decreased 11,250, and most recently stood at 3,703,500.
News of the unemployment situation improving may be premature, but the information could be considered positive. Any decrease in claims could be considered good, though the employment situation is only miniscule. Consumers who recently lost a job may want to abandon using their credit card to make payments, due to the higher risk of damaging finances for an extended period. If a person accrues too much debt, exploring credit counseling option could be a good option.
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