Layoffs, Unemployment Still on the Rise
April 23, 2009
Rob Kuznia--HispanicBusiness.com
A Labor Department report released Thursday is showing that layoffs are still on the rise, with the number of people filing for unemployment in March surpassing that from the prior month, and the total number of people doing so the highest on record.
About 640,000 people filed for unemployment for the first time in March, up from about 613,000 in February. Meanwhile, some 6.14 million people are on the jobless benefits rolls, setting a record for the 12th straight week, according to Bloomberg.
Also rising in March were large-scale U.S. layoffs, in which 50 or more workers are laid off simultaneously. Last month witnessed 2,933 more mass layoffs than February, according to Reuters.
The United States has lost 5.1 million jobs since the start of 2008. Earlier this month, the Labor Department reported that the nation's unemployment rate is 8.5 percent, the highest in a quarter-century.
Source: HispanicBusiness.com (c) 2009. All rights reserved.
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