By Anshu Dixit
The United States ranks first in the world in the total value of its economic production. According to the most of the sources, our economy is improving, but with a steady pace. Most of the recent recourses have shown that our economy has not improved that much as people were expecting. Research have shown that, “The economy has shown signs of stabilizing or modestly improving in recent weeks, according to the latest Federal Reserve snapshot of regional economic conditions.” Some areas like housing market, manufacturing activities have been improving, whereas commercial real estate market is still a matter of concern. The most concerning matter is labor market. Many of the firms are saying that they are hiring more employees, but the unemployment rate has gone so high that new hiring is not making a big difference. According to the resources, the number of new claims for jobless benefits jumped more than expected last week. Claims had fallen in five out of the previous six weeks, and most economists expect that trend to continue but at a slow pace, with employers still reluctant to hire. There were 531,000 initial jobless claims filed in the week ended Oct. 17, up 11,000 from an upwardly revised 520,000 the previous week, the Labor Department said in a weekly report. The week included the Columbus Day holiday. Are these the sign of improving economy? So, we all know that the economy will be better, but exactly when no one knows. It shows that, there is a long way to go, to get over from these financial crisis.
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