Jobs

[TheAnk]

In a third report, new claims for unemployment benefits fell last week by the largest amount in more than three years, easing concerns that had been raised by increases in layoffs in the previous two weeks.

The Labor Department reported that 319,000 laid-off workers applied for jobless benefits last week, down by 48,000 from the previous week. That was the biggest drop since claims had a one-week decline of 77,000 in early December 2001, the first month after the 2001 recession ended and the economy began recovering from the September terrorist attacks.

The improvement in jobless claims was double what analysts had been forecasting and helped to alleviate worries that the jobs recovery could be faltering as layoffs rose for two consecutive weeks. Last year, the economy created 2.2 million jobs, the first annual increase in employment in three years, and forecasters believe the economy will create at least that many jobs in 2005.

[Allan]

Michigan isn't doing so well. In 2004 the state lost 17,000 manufacturing jobs and 13,000 retail jobs. The unemployment rate rose to a new high for the year in December, with 7.3% of the population unemployed - the highest unemplyoment rate in the nation. This state will never have enough sense to diversify its economy. It is too concerned with trying to attract manufacturing jobs instead of high tech companies. It doesn't take a rocket scientist to figure out that we need to diversify our economy, but the state doesn't seem to be able to figure it out!

http://www.detnews.com/2005/business/0501/20/A01-65300.htm

[Spartan]

That is good news indeed! (err... not for Michigan I guess) I'm not sure what SC's. Thanks for posting this.