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Thursday, May 21, 2009

Weekly Unemployment Data

The only "good" bit of news seems to revolve around the rate at which jobs are being cut. The rate is slowing, but it is still high and the job market is not improving, it is still getting worse.

In the Reuters article, there is still mention of an improved climate in the 3rd and 4th quarters of this year. The climate includes an improved job market. We shall see...

Reuters: U.S. new jobless claims drop 12,000 last week
The number of people staying on benefit rolls after drawing an initial week of aid increased by 75,000 to a more-then-forecast 6.662 million in the week ended May 9...

It was the 16th consecutive week that continued claims had risen to a fresh record high and this pushed the seasonally adjusted insured unemployment rate to 5.0 percent from 4.9 percent the week before...

3 comments:

Glynn Kalara said...

No work out here. Unless your a brain surgeon that specializes in some rare diseases. Or you have a friend in some Governmental body. Beyond that your on your own. Why do we bother to educate our youth if we have no intention of creating jobs for them? Oh we create jobs lots of them in China et al. It's a disgrace and as of yet I see nothing out of DC that is going to make an difference in the short term.

Jim Sande said...

Yes, this is the real problem. We need jobs its that simple. The recession is draining away a lot of energy. Somebody told me recently that there are money resources but then there are personal resources like a person's creativity and ambition, personal contacts. There's still room for a good idea and some effort. The catch is you usually need something to back the effort.

Glynn Kalara said...

People with good jobs or $$ always say that. Especially the one's who are born to the purple. It's just a way of saying it's not my problem.