The Labor Department is reporting 20,000 job losses, a higher number than many expected. Since the start of the recession, there has been around 8.5 million job losses. There are 11.5 million Americans that are receiving some sort of unemployment benefits however some of those are going to be cut by March.
Sunday, February 7, 2010
A long awaited job
Even though unemployment numbers decreased to 9.7%, the lowest it has been for months , a typical worker is unemployed for just over seven months. This just adds to the fustration for the adults in this awful economy. Unemployment benefits usually last for around 26 weeks and with six people for every job opening this just creates a very tough time for people looking for anything that will come their way.
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In the future months, the unemployment rate may drop, not because more people have found a job, but because some people have been counted out of the labor force since they have been jobless beyond the certain time frame.
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