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Fewer people applied for unemployment benefits
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Fewer people applied for unemployment benefits
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.
To read the whole article, click on: http://finance.yahoo.com/news/Fewer-people-applied-for-apf-839918525.html
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.
To read the whole article, click on: http://finance.yahoo.com/news/Fewer-people-applied-for-apf-839918525.html
worrywart- Premium Poster
- Posts : 199
Join date : 2011-04-12
Re: Fewer people applied for unemployment benefits
things are finally looking up!!!
unemployed2long/1208- Elite Poster
- Posts : 650
Join date : 2011-02-13
Age : 76
Location : Ky/indiana
Job/hobbies : unemployed/living
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