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When the recession started, those who keep a close eye on trends like the number of people applying for Social Security disability benefits were concerned. They noticed a big spike in the number of people applying for federal disability benefits, which indicated to them that the economy was truly struggling.
When people have trouble finding work – especially work that will accommodate their disabilities or health problems – many turn to Social Security disability as a last resort. This indeed caused disability claims to skyrocket, making an already bad backlog even worse.
However, these days it seems that the tables have turned. The number of people filing for disability benefits with the Social Security Administration has actually started to drop.
Experts and trend watchers believe that the number of disability applicants has gone down because people with less serious disabilities and health problems are finally able to find work again. This typically happens in a stronger job market.
It is too soon to declare the recession over, but the fact that the steady increase in disability applications has started to drop back is a great sign for the U.S. economy. In fact, disability claims have dropped by 20 percent since October. Let’s hope this trend continues, especially in New York.
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