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Fewer people applied for unemployment benefits

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Fewer people applied for unemployment benefits

Post by worrywart on Thu Sep 22, 2011 9:49 am

Fewer people sought unemployment benefits last week, though applications remain elevated

Christopher S. Rugaber, AP Economics Writer, On Thursday September 22, 2011, 9:11 am

WASHINGTON (AP) -- The number of people applying for unemployment benefits fell last week, though the decline isn't enough to signal improvement in the job market.

"September is shaping up to be another difficult month for the job market," said Ryan Sweet, an economist at Moody's Analytics.

Pacific Biosciences of California Inc. said Wednesday that it will cut 130 employees, or 28 percent of its work force. Last week, Bank of America Corp. said it is cutting 30,000 jobs.

Still, economists say the main problem is that there are few jobs for the 14 million people who are unemployed.

The economy will probably see some job growth in September after none in August, Sweet said. But the net gains will mostly come from roughly 45,000 Verizon workers who are back on the job after an August strike.

"Outside of that, it seems that hiring has been kept to a minimum," Sweet said.

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Re: Fewer people applied for unemployment benefits

Post by unemployed2long/1208 on Mon Sep 26, 2011 10:02 am

things are finally looking up!!!
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