WebSify
Follow us on
Mail
Print

News Summary: Sandy boosts US jobless data

Source : AP
Last Updated: Wed, Nov 21, 2012 19:15 hrs

: U.S. unemployment benefit applications were elevated for a second straight week because Superstorm Sandy forced many people to seek temporary aid. First-time applications fell 41,000 last week to a seasonally adjusted 410,000, the Labor Department said.

MORE DISTORTIONS LIKELY: Two weeks ago, the storm drove applications up by 90,000 to 451,000, an 18-month high. Workers can claim benefits if their employers close and they aren't paid. Sandy could inflate applications for another week.

JOB GAINS TO SLOW: The storm may slow job growth this month. That's because monthly job gains are calculated by subtracting layoffs and quits from overall hiring.




blog comments powered by Disqus
most popular on facebook
talking point on sify finance