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Stocks tumbled today after two disappointing economic reports renewed investors’ concerns about the pace of the recovery. The Dow Jones industrial average fell 144 points. All the major stock indexes fell more than 1 percent. Interest rates also fell sharply as investors moved back into the safety of Treasury bonds. The Labor Department said initial… Continue Reading Stocks drop as jobless claims rise unexpectedly

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New applications for unemployment insurance reached the half-million mark last week for the first time since November, a sign that employers are cutting jobs again as the recovery slows. The Labor Department says initial claims for jobless benefits rose by 12,000 last week to 500,000, the fourth increase in the past five weeks. Wall Street… Continue Reading Jobless claims rise to highest level in 9 months

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A Gallup poll says that 18.4 percent of U.S. workers say they are either unemployed or underemployed. The survey of 81.6 percent have jobs, but the unemployed/underemployed number has been between the high-teens and 20 percent throughout the year. Gallup surveys 19,800 American workers each month. “Underemployed” is defined as working part-time while wanting to… Continue Reading Gallup says 18% of Americans unemployed or underemployed

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The Obama administration is providing $3 billion to unemployed homeowners facing foreclosure in the nation’s toughest job markets. The Treasury Department says it will send $2 billion to 17 states that have unemployment rates higher than the national average for a year. They will use the money for programs to aid unemployed homeowners. Some of… Continue Reading Obama administration to provide $3B in housing aid

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New claims for jobless benefits rise to 479K

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Initial requests for jobless benefits rose last week to their highest level since April, a sign that hiring remains weak and some companies are still cutting workers. The Labor Department said Thursday that new claims for unemployment insurance rose by 19,000 to a seasonally adjusted 479,000. Analysts had expected a small drop. Claims have risen… Continue Reading New claims for jobless benefits rise to 479K

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Initial jobless claims drop to 457,000

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New jobless claims fell last week for the third time in four weeks but remain elevated. The decline is a sign that the economy likely added jobs in July, although not enough to lower the nation’s high unemployment rate. First-time claims for unemployment insurance dropped by 11,000 to a seasonally adjusted 457,000, the Labor Department… Continue Reading Initial jobless claims drop to 457,000

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New jobless claims jump from two-year low

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New jobless claims jumped last week by the most since February, reversing the previous week’s sharp decline. The rise is partly a result of seasonal factors but also reflects the job market’s weakness. New claims for unemployment insurance jumped by 37,000 to a seasonally adjusted 464,000, the Labor Department said today. The sharp increase comes… Continue Reading New jobless claims jump from two-year low

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Legislation to restore unemployment benefits to millions who have been out of work for more than six months broke free of Senate Republican delaying tactics today. Senators voted 60-40 to move ahead on the bill, clearing the way for a final Senate vote later on Tuesday. The measure would restore jobless checks for 2.5 million… Continue Reading Unemployment benefits extension clears hurdle

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With unemployment levels remaining stubbornly high, the Colorado Department of Labor is seeing a rise in unemployment fraud. The state’s Department of Labor and Employment estimates it paid more than $1.69 million last year in fraudulent claims, out of a total of slightly more than $1 billion in claims paid in 2009. That’s about 1.8… Continue Reading Unemployment fraud on the rise in Colorado

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State auditors say Colorado needs to overhaul the way it funds unemployment benefits if it wants to avoid repeated shortfalls. Lawmakers held a hearing on the audit yesterday. The Colorado Unemployment Insurance Trust has borrowed $188 million from the federal government after becoming insolvent in January. The state Labor and Unemployment Department says it could… Continue Reading Audit: Overhaul funding for Colo. jobless benefits

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