Yes, I read the article. There is some positive news, but our very high unemployment will be around for a long time. Do not get too excited. Productivity has increased, and because of uncertain conditions, we are holding off hiring.
The number of Americans filing first- time claims for unemployment benefits unexpectedly fell last week to the lowest level in more than a year, a sign companies are holding on to workers as the economic recovery unfolds.
Initial jobless claims declined by 5,000 to 457,000 in the week ended Nov. 28, the fewest since September 2008, a Labor Department report showed today in Washington. The number of people receiving unemployment insurance rose in the prior week, and those getting additional payments jumped as some states started reporting figures on the government’s latest extension.
Companies are less likely to fire workers as the economy emerges from the worst recession since the 1930s. They’re also reluctant to add to payrolls, government data may show tomorrow. Employers shed another 125,000 jobs last month and the unemployment rate held at a 26-year high of 10.2 percent, economists forecast the Labor Department to report.
“The labor market is turning,” said Dean Maki, chief U.S. economist at Barclays Capital Inc. in New York. “We are set to break into positive job growth over the next few months. The recovery is proceeding on schedule.”
In the coming months, unemployment will decline. |
