IBJNews

Applications for jobless benefits rise again

Associated Press
October 14, 2010
Keywords
Back to TopCommentsE-mailPrintBookmark and Share

Applications for jobless benefits rose last week for the first time in three weeks, evidence that companies are still reluctant to hire in a slow economy.

The Labor Department said Thursday that initial claims for unemployment aid rose by 13,000, to a seasonally adjusted 462,000. It was only the second rise in two months.

Despite the ups and down, claims have been stuck near 450,000 all year. Few employers see much reason to create many jobs, and some are still laying off workers. Rail operator CSX Corp., for example, said Wednesday that it can lengthen its trains to handle rising shipments, reducing its need to hire more workers.

In addition, cash-strapped state and local governments are cutting jobs, adding to the ranks of those out of work.

The four-week average of claims, a less volatile measure, rose by 2,250 to 459,000.

The initial claims figure, while volatile, is considered a real-time snapshot of the job market. It is also a measure of the pace of layoffs and an indication of companies' willingness to hire.

Claims have fallen significantly since June 2009, the month the recession ended. First-time claims topped 600,000 at the end of that month.

But most of the improvement took place last year. Since January, claims have fluctuated around 450,000.

Total unemployment benefit rolls, meanwhile, fell last week, most likely because many of those out of work are using up their benefits.

The number of people continuing to receive benefits fell by 112,000, to just under 4.4 million, the department said. But that doesn't include several million people who are receiving benefits under extended programs approved by Congress.

The number of people on extended benefits dropped by about 340,000, to about 4.8 million, in the week ending Sept. 25, the latest data available. All told, about 8.6 million people received unemployment aid that week.

Layoffs are continuing in some sectors. Sanofi-Aventis SA, the world's fourth-largest drug maker, said last week that it is eliminating 1,700 jobs in its U.S. pharmaceutical business due to growing generic competition.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

ADVERTISEMENT