Jobless claims give clues on economy

June 18, 2009 | Print this Page.
More new claims recorded for unemployment insurance.
With the national unemployment rate reaching a new high in May of 9.4 percent, economists, small business owners, consumers and employers are all keeping a close watch on the myriad job figures released by the government wondering if there are any clues about when a recovery will begin.

According to the Department of Labor, initial claims for unemployment insurance increased by 3,000 from the previous week to 608,000. The 4-week moving average was lower by 7,000 from the last reading.

This uptick in claims on the week was higher than many analysts' expectations.

Layoffs at manufacturing companies in some states contributed to the increase in claims.

Meanwhile, the Department of Labor also announced earlier this week that a $4.8 million grant is being awarded to help over 1,100 Minnesota workers in the manufacturing and retail sectors get back on their feet.

"This funding will provide workers with the education and training needed to upgrade existing skills or learn new skills in order to gain employment in growing regional industries," said secretary of labor Hilda L. Solis.

Interact with Us:

Share This News Story:

Post new comment

The content of this field is kept private and will not be shown publicly.
This blog uses the CommentLuv Drupal plugin which will try and parse your sites feed and display a link to your last post, please be patient while it tries to find it for you.
CAPTCHA
This question is to determine whether you are a human visitor and to prevent automated spam submissions.
Capital Solutions Apply Today, Get Cash Next Week

What Our Clients Say

Risk-Free Guarantee

We were funded [in 10 days] (the approval process was very smooth). The way I spend my time has changed dramatically since then. I can spend as much time as I need visiting with customers and out on the field.

George Del Toro
GDT Well Service

When we started this program, you indicated your team was there to transition us over to a more conventional working capital arrangement in time. It actually happened very fast, and the new program is working well... I just wanted to thank you and your whole team for the professional manner in which you handled our account.

R.P. Campbell
PolyFlex Products