US Unemployment Aid Applications Essentially Unchanged At 370,000, Sign Of Modest Job Growth
by Wall Street Job Report on May 24, 2012
The number of people seeking unemployment benefits changed little last week, signaling modest job growth. The Labor Department said Thursday that weekly applications for benefits dipped by 2,000 to a seasonally adjusted 370,000. Applications have leveled off this month after declining from April’s five-month high of 392,000. The four-week average, a less volatile measure, has also dropped — it was 370,000 last week. The lower level indicates hiring could pick up in May from April’s sluggish pace. When applications drop below 375,000 a week, it typically suggests hiring is strong enough to lower the unemployment rate.
Read Full Article At Washington Post.
One comment
It is extremely wrong to say that some people stopped looking for work. Where is your evidence? I am out of work 3 yrs. now and on Welfare now after exhausting all my savings and IRA. I constantly look for work but no one replies to me.
Do companies tell you how many replies they get? It is very offensive for someone close to retirement who has worked all their lives and instead of planning for my retirement, I’m planning for my homelessness. However, I am still looking for work. Just in case someone out there is compassionate enough to hire me after 3 years. You really need to be in my shoes to experience the cruelty of today’s employment standards.
by Anne on May 24, 2012 at 7:26 pm. #