Jobless claims continue at record rate!
WASHINGTON (PNN) - August 6, 2009 - Continuing claims for jobless benefits rose by 69,000 to a record 6.31 million, the worst unemployment our country has seen since the Great Depression.
However, the number of newly laid-off workers seeking unemployment benefits fell last week, considered by government propagandists to be a sign that the job market is making gradual improvement.
Job losses are likely to slow in coming months - according to unnamed economists - a trend that could be reflected in the government's July unemployment report to be released Friday.
First-time claims for jobless benefits dropped to a seasonally adjusted 550,000 for the week ending August 1, down from an upwardly revised figure of 588,000 in the previous week, the Labor Department said.
However, the number of newly laid-off workers seeking unemployment benefits fell last week, considered by government propagandists to be a sign that the job market is making gradual improvement.
Job losses are likely to slow in coming months - according to unnamed economists - a trend that could be reflected in the government's July unemployment report to be released Friday.
First-time claims for jobless benefits dropped to a seasonally adjusted 550,000 for the week ending August 1, down from an upwardly revised figure of 588,000 in the previous week, the Labor Department said.
