Jobless claims rising again
The number of newly-laid off workers seeking jobless benefits unexpectedly rose last week.
The number of newly-laid off workers seeking jobless benefits unexpectedly rose last week.
For the year, retail sales fell 6.2 percent, the biggest decline on government records that go back to 1992.
The Labor Department said Friday that employers cut 85,000 jobs last month, worse than the 8,000 drop analysts expected. But
the nation’s unemployment rate held steady at 10 percent.
The decade ahead could be a brutal one for America’s unemployed—and for people with jobs hoping for pay raises.
The 131,000 jobs lost
in the 12 months ended in November amounted to a 7.2-percent decline and were nearly equivalent to the combined populations
of Carmel and Fishers.
Indiana’s unemployment rate ticked downward in November, falling to 9.6 percent, the Indiana Department of Workforce Development
said Friday morning.
One of the most important effects of the recession â??lower employment â?? is likely to be stubbornly persistent.
The Labor Department said the economy shed only 11,000 jobs last month, a vast improvement from October’s revised total of
111,000.
The economy is getting closer to generating jobs for the first time in two years, but it probably won’t be enough to stop
the unemployment rate from rising well into 2010.
The U. S. Commerce Department said productivity rose at an annual rate of 8.1 percent in the third quarter, the biggest jump
since 2003.
The number of people claiming jobless aid has tripled since the recession began. The demand has drained the funds that many
states use to pay jobless claims. Nearly half the states, including Indiana, are borrowing from the federal government.
Indiana’s unemployment rate inched up to 9.8 percent in October, reversing small declines recorded in the previous three months,
the Indiana Department of Workforce Development said Friday morning.
Unemployment is hitting various demographic groups quite differently.
Federal legislation will provide up to 20 weeks of additional unemployment benefits in Indiana. The extension means eligible residents will be able to claim up to 99 weeks in benefits.
President Barack Obama is set to sign a $24-billion economic stimulus bill providing tax incentives to prospective homebuyers
and extending unemployment benefits to the longtime jobless who have been left behind as the economy veers toward recovery.
The government will release figures this week expected to show that the economy has awakened from its deepest slump since
the 1930s. But the following week, the government will issue another set of figures expected to show unemployment continuing
to rise.
The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, as employers remain
reluctant to hire even as the economy shows signs of recovery.
Employment in Indiana’s insurance industry has remained stable despite a poor economy.
Unemployment in Indiana fell for the third consecutive month in September, bucking the national trend of rising jobless rates,
the Indiana Department of Workforce Development said Wednesday morning.
Indiana manufacturers, many of which have suffered major job losses, are optimistic the economy will rebound next year,
according to an annual survey commissioned by Katz Sapper & Miller LLP.