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Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Dad accused of forcing son into field, killing him
Man found dead in North Akron home is identified
Victim of beating in Kent last week is declared dead at Akron hospital
Coventry man killed in crash at I-77 ramp
Browns' roster nearly devoid of consistent players
College student mistaken for deer, shot to death
NFL star Chris Spielman's wife loses cancer battle
Blogs:
Pets:
Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Friday Night Notebook
Patrick McManamon:
For your Saturday entertainment …
Akron Zips:
Hitchens leads Zips in second-half comeback
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Holmgren expresses interest in Browns position
Kent State Sports:
Kent State blown out in second half, loses to Temple 47-13
Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers
Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Four area football teams play tonight
All Da King's Men:
Headed For Disaster
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (69) The Brookings Institute Study on "Bending the Curve" – Four General Strategies
See Jane Style:
Vintage Chic
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Silverdome Potentially SOLD!
Ohio Travels with Betty:
George is looking for a Thanksgiving buffet in Akron.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Colloquium at University of Akron
Akron Gamer:
Nintendo's Mario endures even as games come and go
By Christopher S. Rugaber
Associated Press
POSTED: 09:08 a.m. EST, Dec 18, 2008
WASHINGTON: Initial claims for unemployment benefits dropped more than expected last week, but mass layoffs continue amid a recession that appears to be deepening.
The Labor Department reported today that new applications for jobless benefits fell to a seasonally adjusted 554,000 for the week ending Dec. 13, from an upwardly revised figure of 575,000 the previous week. The new tally was slightly below economists' expectations of 558,000 claims.
One likely reason for the improvement is that the figure was inflated two weeks ago by applicants who delayed filing their claims during the Thanksgiving holiday week, a Labor Department analyst said. The government attempts to account for such volatility with its seasonal adjustments but is not always successful.
Still, the four-week moving average, which smooths out fluctuations, increased slightly to 543,750 claims, the highest since December 1982. The labor force has grown by about half since then.
Another slight improvement was seen in the number of people who continue to receive jobless benefits, which declined to 4.38 million from 4.43 million the previous week. Economists expected a slight increase to 4.45 million.
Economists consider jobless claims a timely, if volatile, indicator of the health of the labor markets and broader economy. A year ago, initial claims stood at 349,000.
The elevated level of claims is just one of several signs that the labor market has deteriorated rapidly in recent months.
Large layoffs are occurring across many sectors of the economy. On Wednesday alone, hard drive maker Western Digital Corp., managed-care company Aetna Inc., and Newell Rubbermaid Inc., maker of products including Rubbermaid storage containers and Sharpie pens, announced mass job cuts.
Pharmaceutical company Bristol-Myers Squibb Co., International Paper Co. and Bank of America Corp. also announced layoffs in the past week.
''The continuing wave of layoffs suggests claims could soon top 600,000,'' David Resler, chief economist at Nomura Securities, wrote in a client note Wednesday.
The Labor Department said earlier this month that employers cut a net total of 533,000 jobs in November, sending the unemployment rate to 6.7 percent, the highest in 15 years.
WASHINGTON: Initial claims for unemployment benefits dropped more than expected last week, but mass layoffs continue amid a recession that appears to be deepening.
The Labor Department reported today that new applications for jobless benefits fell to a seasonally adjusted 554,000 for the week ending Dec. 13, from an upwardly revised figure of 575,000 the previous week. The new tally was slightly below economists' expectations of 558,000 claims.
One likely reason for the improvement is that the figure was inflated two weeks ago by applicants who delayed filing their claims during the Thanksgiving holiday week, a Labor Department analyst said. The government attempts to account for such volatility with its seasonal adjustments but is not always successful.
Still, the four-week moving average, which smooths out fluctuations, increased slightly to 543,750 claims, the highest since December 1982. The labor force has grown by about half since then.
Another slight improvement was seen in the number of people who continue to receive jobless benefits, which declined to 4.38 million from 4.43 million the previous week. Economists expected a slight increase to 4.45 million.
Economists consider jobless claims a timely, if volatile, indicator of the health of the labor markets and broader economy. A year ago, initial claims stood at 349,000.
The elevated level of claims is just one of several signs that the labor market has deteriorated rapidly in recent months.
Large layoffs are occurring across many sectors of the economy. On Wednesday alone, hard drive maker Western Digital Corp., managed-care company Aetna Inc., and Newell Rubbermaid Inc., maker of products including Rubbermaid storage containers and Sharpie pens, announced mass job cuts.
Pharmaceutical company Bristol-Myers Squibb Co., International Paper Co. and Bank of America Corp. also announced layoffs in the past week.
''The continuing wave of layoffs suggests claims could soon top 600,000,'' David Resler, chief economist at Nomura Securities, wrote in a client note Wednesday.
The Labor Department said earlier this month that employers cut a net total of 533,000 jobs in November, sending the unemployment rate to 6.7 percent, the highest in 15 years.
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