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Jobless Claims in the U.S. Declined to Lowest Levels Since 1973, But Are Franchisors Upbeat About The Economy?
Applications for unemployment benefits unexpectedly declined to match a more than 42-year low
According to a recent report in Bloomberg, the number of Americans filing for unemployment benefits matched a more than 42-year low a few weeks ago, but a question remains – are franchisors upbeat about the direction of the economy?
Jobless claims dropped by 13,000 to 253,000 during the week that ended on April 9, equaling a level in March that was the lowest since November 1973, according to a report from the U.S. Labor Department.
With a jobless rate near an eight-year low and a healthier outlook for employment, some economists are predicting consumer spending and growth to pick up. With the labor market gaining strength, the natural assumption would be that franchising should also be seeing an uptick in development, employment and sales because the economy appears to be creating a lot of jobs. We will have to wait and see.
The Bloomberg story went on to say that for 58 consecutive weeks, jobless claims have remained below the 300,000 level, which is the longest stretch since 1973.
To read the original story, click here.
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About the Author
Nick Powills
FollowNick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
