U.S. Unemployment Rate Improves

For the first time in nearly a year and a half, there is good news on the unemployment front. Although there was a lot of positive news, the best news may be that the U.S. unemployment rate improved from 9.5% to 9.4%. Most experts were expecting an increase, so the dip — even though it was slight — is a great sign for the nation’s economy.

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In June, more than 440,000 jobs were lost. In July, that number dropped all the way to under 250,000. Experts had predicted significantly more job losses.

Other stats released by the Labor Department include a jump in the average number of hours worked per week and an increase in average hourly earnings. Although these improvements were also slight, many believe that these are indications that the United States may be rebounding.

Barack Obama believed that Friday’s job-related news was a big step in the right direction.

Said Obama: “The worst may be behind us. Today, we’re pointed in the right direction.”