More Americans sought unemployment benefits last week, though the winter holidays likely distorted the data for the second straight week.
The Labor Department says weekly applications rose by 10,000 to a seasonally adjusted 372,000 in the week ended Dec. 29. The previous week’s total was revised higher.
Many state unemployment offices were closed last week for the New Year’s holiday. As a result, the department relied on estimates for nine states. Two weeks ago, the department estimated 19 states because of Christmas closings.
In a typical week, the government estimates only one or two states.
The government will release the December’s jobs report Friday. Economists forecast it will show employers added about 150,000 jobs last month, barely enough to lower the unemployment rate.
(AP)
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2 Responses
This is still way above the level of the period prior to the “crash” five years ago, suggesting the economy is in a “rut” (well, at one time a “rut” lasting this long was called a “depression”). It should be note that historically, depressions can be long lasting, sometimes measures in decades or centuries – , meaning it is quite likely we will be nostalgic for the “good old days” for a very long time.
Torah-Oriented Vocational Textbook & Course:
I am pleased report that “The Mishkan and AutoCAD 2012” — my Yeshiva/Bais Yaakov edition of their CAD (computer-aided design) textbook — is now available from McGraw-Hill:
•Loose-leaf paper version: http://shop.mcgraw-hill.com/mhshop/productDetails?isbn=0077724496
•eBook version: https://create.mcgraw-hill.com/shop/ . Search for “Rokach”.
Registration is now open for a Basic CAD course I will be offering online for the OU Job Board (the job training and job placement service of the OU): http://www.oujobs.org . Participation in the Sunday morning “live” online demonstration/lectures will not be required; recordings will be sent to enrolled students.