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.
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