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May 5, 2011

Unemployment Claims Increase

Filed under: General HR Buzz11:07 am

Despite other signs suggesting that the US is in a period of economic recovery, employment still seems to be struggling to get with the program.

The Department of Labor today announced that new claims for unemployment benefits rose for a third straight week in April.  Claims grew at a rate greater than expected, and suggest that the US has yet to achieve sustainable job growth.

The national unemployment rate continues to hover around 8.8%, with updated numbers expected to be released tomorrow.   Productivity rates are also trending lower, suggesting to some that employers have squeezed all they can out of their current workforce,  and will have to hire additional workers in order to increase productivity.  However, if employers are not able to add additional staff, productivity may continue to trend lower, resulting in more drag on employment and the US economy.

You can read more analysis of the current employment statistics in the USAToday at http://www.usatoday.com/money/economy/2011-05-05-unemployment-benefits_n.htm

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