It appears that the U.S. economy has continued to improve, with another decrease in unemployment claims, a stronger labor market and increased consumer spending, among other factors.

Overall, this is great for businesses across the country. As the economy gets even stronger, it will be easier to manage costs and generate profits, in addition to finding high-quality, skilled labor. As an added bonus, more consumers may be motivated to spend money in the coming months, providing another boost to companies' bottom lines.

Unemployment claims tick down once more
Following last week's decline, unemployment insurance claims dropped once more, according to a report from the U.S. Department of Labor. For the week ending July 12, the advance figure for seasonally adjusted initial claims reached 302,000, down 3,000 from the previous seven-day period's level. 

Furthermore, the four-week moving average also ticked down during that time, dropping 3,000 unemployment claims to a new level of 309,000. This is now the lowest it has been since early June 2007. Overall, there were slightly fewer than 2.5 million people claiming benefits across the country. On a state-by-state basis, the highest insured unemployment rates were in Alaska, Connecticut and New Jersey, at 3.4 percent, 3 percent and 3 percent, respectively.

US economy surges as well
As the labor market improves, so too does the overall U.S. economy. According to data from the Federal Reserve, as reported by The Wall Street Journal, consumer spending, manufacturing and tourism were some of the recent highlights.

These gains come in contrast to the start of 2014, where rough weather hampered financial activity in many sectors. As a result, a number of economists are predicting a quality second quarter when reports come in, the news source noted. The Federal Reserve also pointed out the labor market as a driving force behind improvements to the U.S. economy. Job creation has been relatively strong recently, which has in turn helped boost consumer spending and personal wealth.

As these positive trends take hold across the country, employers may have an easier time managing costs, finding skilled labor and improving their profits. Hopefully, gains won't be slowing down any time soon.

Juggling tax rates and difficult employees can become challenging at your company. Here at Corporate Cost Control, we understand these problems and are well-positioned to help. Our extensive background in cost control and human resources will allow you to better manage your unemployment insurance expenses.

Contact CCC to see how we can save your organization time and money. Contact our Sales Team (800) 207-6926

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