WASHINGTON

WASHINGTON - BrendaHawkins WASHINGTON(Market Watch The...

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Brenda Hawkins Economic Problems and Issues. WASHINGTON (Market Watch) -- The number of people filing an initial claim for unemployment benefits declined by 24,000 last week to a seasonally adjusted 456,000, the first drop in three weeks, the Labor Department reported Thursday. Although layoffs are down significantly from the peak a year ago, initial jobless claims have remained stubbornly high; a sign that labor markets are very weak. Initial claims are essentially unchanged from the first of the year, but are down 27% from a year ago. "Even after recent declines, the level of claims is higher than one would expect it to be if private nonfarm payrolls were really poised to begin sustained gains," wrote Joshua Shapiro, chief economist for MFR Inc. Labor Department officials had blamed administrative backlogs for a part of the increases over the previous weeks. They said there were no special statistical or administrative factors in play in last week's data. "A continued decline would confirm that the higher readings of the last two weeks were
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This note was uploaded on 06/18/2011 for the course BUS 499 taught by Professor Campbell during the Spring '11 term at Strayer.

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WASHINGTON - BrendaHawkins WASHINGTON(Market Watch The...

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