The number of people seeking unemployment benefits in the U.S. dropped recently.
The Associated Press reported that the amount of residents applying for benefits dropped by 13,000 last week, coming in at 263,000. The source explained that because the number of applicants mirrors layoffs within the U.S., this decrease is a positive sign for job stability. Overall, there were 2.2 million people receiving unemployment benefits last week, which is the lowest total the country has seen since November 2000. This is the lowest number of applications the nation had experienced since July, when the number of benefits-seekers hit a 42-year low.
Despite this promising sign, the country’s employment situation continues to remain fairly stagnant, explained Reuters. While companies are not cutting large portions of their workforces, they are not being very proactive when it comes to adding new employees, either. The source reported that for the majority of 2015 the country gained more than 200,000 positions each month. This number has fallen in recent months, as employers created just 136,000 jobs in August and 142,000 positions in September. While few jobs are being lost, more need to be created to maintain strong economic momentum.