QE2 Results Show Positive Improvements In The Economy…The Headwinds To Watch For Ahead Will Be Large State And Local Government Cutbacks, Rising Consumer Costs In Food And Energy And European Union Debt Problems
Posted By thestatedtruth.com on December 30, 2010
WASHINGTON (MarketWatch) — The number of U.S. workers filing new applications for jobless benefits fell below the key 400,000 level in the most recent weekly data, released Thursday, in a signal that the labor market is continuing to mend. Â
“Initial claims can be very volatile around year-end due to seasonal adjustment difficulties related to the holidays and we are cautious about reading too much into any one report,†wrote analysts at RDQ Economics in a research note.
In the week ended Dec. 18, the number of people who continued to receive benefits under state unemployment programs rose 57,000 to a seasonally adjusted 4.13 million.
Altogether, about 8.87 million people received some kind of unemployment-insurance benefit in the week ended of Dec. 11, on an unadjusted basis. That level was down about 35,000 from the prior week.
Workers in states with the weakest labor markets can receive up to 99 weeks of unemployment-insurance benefits, while workers in other states are eligible for shorter spans of benefits. Around 3 million to 3.5 million people this year have exhausted their eligibility for unemployment-insurance benefits, according to the National Employment Law Project, a New York-based advocacy group.
More at: http://www.marketwatch.com/story/weekly-jobless-claims-drop-below-400000-2010-12-30
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