/::
       
25 November 2009

Jobless Claims Drop Slightly in Nov.

The Labor Department announced Wednesday that the number of people filing first-time claims for jobless benefits fell

By Poder 360°
Michael Stravato | The New York Times


The number of recently laid-off workers filing claims for unemployment benefits dropped by more than expected in the second to last week of November.

 

The Labor Department announced Wednesday that the number of people filing first-time claims for jobless benefits fell by 35,000 to 466,000. That was the lowest level for initial claims since the week of Sept. 13, 2008, and was far better than the 500,000 that economists had expected.

 

After losing an astonishing seven million jobs in the past two years, companies nationwide may have little margin to cut further without threatening their capacity to ramp up production as the economy recovers.

 

To date, numbers show that the government may report next week that employers in November shed the lowest number of jobs in 20 months.

 

The U.S. Labor Department released the numbers a day earlier than usual due to tomorrow’s Thanksgiving holiday.

 

The rising claims numbers do not include the number of Americans to date receiving extended benefits under federal programs. Wednesday’s released calculations show the number of people who’ve used up their traditional benefits and are now collecting extended payments fell by 18,253 to 4.18 million in the week ended Nov. 7.

 

President Obama on Nov. 6 signed into law a plan to extend jobless benefits, giving the unemployed as many as 20 additional weeks of assistance. Through the extra assistance, forty-nine states and territories have reported a decrease in claims, while four reported an increase.

 

The unemployment rate hit a 26-year high of 10.2 percent in October and many economists believe the recovery remains at a sluggish rate due in part to the jobless rate, which continues to rise. Economists believe the rate may top 10.5 percent by the middle of the 2010 summer.



RELATED ARTICLES

The Chavezjad Doctrine: Between Myth and Speculation
Hugo Chavez, a skilled provocateur, has forged political alliances over the course of his 11-year rule in Venezuela with an array of governments that share his zeal for needling and defying the United States.
Read full story
iDream
While her husband is busy dreaming up gadgets such as iPads and iPhones, Laurene Powell Jobs is working on a vision of her own--a brighter future for Hispanic youth.
Read full story
Donation Conflagration
Where is a billboard a wallscape, an ugly street a glamorous boulevard, and a bribe a nonprofit contribution? Sí. Miami!
Read full story
The World Cup is here...
Shakira and Juanes might have headlined the opening concert in South Africa for the 2010 Fifa World Cup, but Miami is having its own month-long soccer party.
Read full story
Is California Ready for the Big One?
Frightening pictures of disaster in other parts of the world should act as a wake-up call
Read full story
One Car Designer’s American Dream
Argentine-born Maximiliano Laroquette came to the U.S. with only one goal in mind—To design cars
Read full story

READERS DISCUSSION

Name
Email
Comment
   
Be the First to Comment on this Story!
Poder360 welcomes and encourages reader comments. Permission to post reader comments is assumed, and we reserve the right to excerpt or edit for clarity any comments that are posted. We won't be able to publish all comments. And we can't vouch for the accuracy of posts from readers. Nicknames will be used to identify your post.