SPRINGFIELD, Mass. (WWLP) - There are new signs of economic recovery, as the number of Americans seeking unemployment aid is the lowest it's been in more than five years.
When the number of unemployment applications fall below 350,000, economists say that is consistent with moderate hiring. This week, they fell to 342,000. They haven't been that low since the start of 2009.
But, that's only half of the equation. Companies also need to be confident to add workers. Despite the lower number of people seeking unemployment benefits, here in Western Massachusetts at Futureworks , the number of people seeking employment has actually ticked up. But it may be due to a renewed enthusiasm to find work.
Rexene Picard, Executive Director at Futureworks, told 22News, "I seem to sense a renewed dedication in the job search. Certainly people are interested in some of the new potential opportunities with the signing of the MGM project this week and potential there."
And a new survey of consumer confidence released this week shows that people are more optimistic that the job market is healing and will deliver higher pay later this year.