Unemployment hits lowest point since 2000

The job market continues to improve, with fewer Americans filing for unemployment.

The job market continues to improve, according to recent statistics issued by the Department of Labor. In fact, the number of Americans seeking unemployment benefits at the end of May was near a 15-year low.

Approximately 276,000 Americans filed initial jobless claims in the period running from May 24 to May 30, a decrease of 8,000 people from the previous week.

The DOL said that the week marked the lowest level of insured unemployment since November 11, 2000.

According to Market Watch, the numbers are a strong indication of job creation throughout the country. Since January, the economy has added nearly, 20,000 jobs per month. The site says economists predict that growth will help lower the nation's 5.4 percent unemployment rate.

"Still, nearly 17 million Americans remain unemployed or underemployed, an unusually high number after six years of economic expansion," the site said. "Companies aren't hiring as fast as they post job openings, and many complain about a shortage of skilled workers."

The job growth seems to be very geographic. The largest rises in initial unemployment claims, for the week ending in May 23, were bordering states Kansas and Missouri, both of which saw rises of more than 1,700 people. The states with the largest decreases in that same week were also neighbors, Washington and Oregon, which saw dips of 375 people or more.  

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