Showing posts with label JOB PICTURE STILL BLEAK. Show all posts
Showing posts with label JOB PICTURE STILL BLEAK. Show all posts

Thursday, February 25, 2010

Jobless claims rise in weak recovery

JOB PICTURE STILL BLEAK: New claims for jobless benefits rose sharply last week, the Labor Department said Thursday. Most of the rise resulted from state agencies processing a backlog of claims left over from two weeks ago when snowstorms closed government offices.

IMPROVEMENT STALLS: Still, a steady drop in claims in the second half of last year has stalled, a sign layoffs are no longer declining. More layoffs could weaken consumer spending and slow the recovery.

WEAK ECONOMY: Other recent economic reports have also been disappointing, evidence that economic growth may weaken later this year.


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