U.S. Jobless Claims Remain Steady

It appears that, for now, the employment picture may be leveling off and stabilizing. U.S. jobless claims are holding steady near 10-month lows, according to a report from the U.S. government. There was essential no change in the number of initial jobless claims filed, and it appears that continuing claims fell.

However, it is important to recognize the caveats associated with continuing claims data, as CNN Money explains:

Continuing claims reflect people filing each week after their initial claim until the end of their standard benefits, which usually last 26 weeks. The figures do not include those who have moved to state or federal extensions, nor people who have exhausted their benefits.

Even so, the fact that initial claims are holding steady is good news. It will be even better news if the labor market manages to show some solid improvement. One of the issues stymieing economic recovery and threatening a double-dip recession is the fact that jobs have been so scarce, and that lay-offs continue.