The US Labor Department in Washington reported today that, the jobless claims declined to 466,000 a decrease of 35,000 from the week before when it was 501,000.
This implies that companies are letting go fewer workers as the economy struggles to recover from the Great Recession. Of course, this is cold comfort for the millions of Americans that are currently out of work, with very little prospects for finding a job anytime soon.
With a national unemployment rate of 10.2 percent and Florida’s own jobless rate running at 11.2 percent, many economists are forecasting that it would be at least 4-5 years before unemployment returns to 6 or 7 percent.
The Labor Department also reported that, insured employment was 5,423,000 for the week ending November 14th, a decrease of 190,000 from the preceding week’s level of 5,613,000.
