Personal Finance

Why Is Unemployment Falling?

Is unemployment really falling?

Here’s what you need to know.

Unemployment

The stock market is nearing an all-time high. Coronavirus cases and hospitalizations are surging. Despite these facts, however, it’s hard to imagine that both these statements can be true for the long-term. Which one is the best barometer of the economy? The stock market has remained resilient despite scientists blowing whistles for the oncoming Covid-19 resurgence. At the same time, unemployment numbers appear to be dropping. Does this mean the economy is bouncing back? Perhaps, but not necessarily.

The latest unemployment statistics show that unemployment is falling compared to its 14.7% high earlier this year, when more than 30 million Americans filed for unemployment benefits. According to the U.S. Bureau of Labor Statistics, the unemployment rate is 6.9% as of October.


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