Labor Department reports say unemployment benefit distribution is at 25 year high.
Wired PR News.com – In reports released by the US Labor Department on Thursday, the number of unemployment benefits received in the country is said to be at a 25 year high. As reported by the Associated Press (AP), the Department stated that 4.78 million Americans in the workforce received unemployment insurance mid-January, with the numbers proving to be more disheartening than those predicted by economists. Other reports released that highlighted troubling issues with the economy included those pertaining to the housing market, with home sales falling to their lowest numbers in more than four decades.
Several companies also reported more mass jobs cuts on Thursday including Textron Inc., Kodak Co., Black & Decker Corp., Starbucks, Target Co., Pfizer Inc., and others, which will make the total job loss numbers for January thus far an estimated 130,000.