Where Are the New Jobs?

From: Town Hall

Where Are the New Jobs? - By John Stossel
http://townhall.com/columnists/JohnStossel/2010/08/25/where_are_the_new_jobs


"Corporate profits are soaring. Companies are sitting on billions of dollars of cash. And still, they've yet to amp up hiring or make major investments."

So writes The Washington Post about the recession's stubborn refusal to go away. The statisticians at the National Bureau of Economic Research declared the Great Recession over -- but tell that to people who can't find jobs. Today, businesses replace equipment and inventory, but they are reluctant to hire new workers. Investment that does occur aims at replacing the use of labor by adopting advanced technology. In a growing economy, that's a sign of progress. Freed-up workers are then available for new projects. But lately, those new projects aren't being launched. . . .

New Jobless Benefits Claims Leap to 500,000, Highest Since November

From: Fox News

New Jobless Benefits Claims Leap to 500,000, Highest Since November
http://www.foxnews.com/politics/2010/08/19/new-jobless-benefits-claims-leap-highest-november/


New applications for unemployment insurance reached the half-million mark last week for the first time since November, a sign that employers are likely cutting jobs again as the economy slows.

The Labor Department said Thursday that initial claims for jobless benefits rose by 12,000 last week to 500,000, the fourth increase in the past five weeks. Wall Street economists forecast that claims would drop.

The four-week average, a less volatile measure, rose by 8,000 to 482,500, the highest since December. There were no special factors that distorted the numbers, a Labor Department analyst said. . . . .

New claims for unemployment aid reach 484K

From: Yahoo Finance

New claims for unemployment aid reach 484K: New applications for jobless benefits rise to highest since February as layoffs continue
http://finance.yahoo.com/news/New-claims-for-unemployment-apf-3180551258.html?x=0&.v=1



The employment picture is looking bleaker as applications for jobless benefits rose last week to the highest level in almost six months.

It's a sign that hiring is weak and employers are still cutting their staffs.

First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. Analysts had expected a drop. That's the highest total since February.

Geithner: Unemployment Could Go Up Before It Comes Down

From: ABC Good Morning America

Treasury Secretary Timothy Geithner: Unemployment Could Go Up Before It Comes Down
http://abcnews.go.com/GMA/treasury-secretary-timothy-geithner-unemployment/story?id=11308157

Treasury Secretary Timothy Geithner acknowledged that it is still a "tough economy" for most Americans, and warned it's possible the unemployment rate will go up for a couple of months before it comes down as more people enter the labor force.