Unemployment Claims Decline to Lowest Level in a Year
In Washington, in the last weeks of November 2009, the number of recently laid-off workers filing for unemployment assistance declined and went down to below 500,000 for the first time since January. Earlier in October, consumer spending went up and new home sales hit their peak in more than a year; in addition to all these, shoppers’ attitude lightened a bit ahead of the critical holiday shopping season.
The news revealed that the economy should be able to carry on to at least a diffident rebound. Some economists are, however, concerned that the economy was at danger of going back into a slump. The Labor Department stated Wednesday that the number of people filing first-time claims for unemployment benefits declined by 35,000 to 466,000. That was the fewest since September of 2008, a figure far healthier than the 500,000 economists had anticipated.
Then again, analysts mentioned that jobless claims would have to fall to near 400,000 for several weeks to indicate real growth in employment. Economists guess the economy will lose a net 145,000 jobs this month. It would have to adjoin 125,000 jobs a month just to stabilize the unemployment rate and keep it from rising. Economists at Wells Fargo, Mark Vitner said, “When taken all together, the reports still paint a picture of a slow economic recovery.”
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Boo-Hoo. The majority of minimum wage earners are teenagers…so how many teenagers do you know that are trying to ‘eek out a living’ ? If you’re an adult (and I use that term loosely) and only making minimum wage, you’re aloser and need to get some skills