Last week, unemployment claims fell slightly. However, jobless claims seem to be driven by slow hiring. According to the Labor Department, first-time jobless claims fell last week to 366,000 from 371,000 the previous week. First-time jobless claims are extremely important to the economy because they are considered a proxy for layoffs. Over the last month, jobless claims have bounced around, making the state of the job market recovery unclear to economists.
January’s early jobless claims plummeted to a five-year low, but have shot back up in the past few weeks. Currently they are hovering in the same range they have been for most of the last year, between 350,000 – 400,000 per week. According to an economist at BMO Capital Markets, businesses are still extremely cautious about hiring new employees. The Labor Department also records people who file continuing unemployment claims. During the week ending January 26th, 3.2 million people filed continuing unemployment claims.
To read more on this story visit: http://money.cnn.com/2013/02/07/news/economy/unemployment-benefits/index.html
If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia, P.A. at www.miamibankruptcy.com.