Friday, January 9, 2009

Finding a new job becomes harder as layoffs mount

WASHINGTON – The number of laid-off workers who are continuing to draw unemployment checks jumped more than expected to 4.6 million at the end of December and is likely to keep climbing this year — fresh evidence that people are finding it increasingly difficult to get a new job amid a deepening recession.

The Labor Department's report Thursday also said first-time applications for jobless benefits dropped to 467,000 last week. But economists largely described that decline as a distortion, reflecting the government's difficulty in making seasonal adjustments over the holiday period. Even with the dip, the figure still signaled trouble in the labor market. A year ago, initial claims stood at 330,000.

 

Read full artice: http://news.yahoo.com/s/ap/20090108/ap_on_bi_go_ec_fi/financial_meltdown;_ylt=Av.niqj9b3b5p3SAJxWrgC3v5rEF


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