Unemployment Claims Fall, Hiring Remains Slow - East Idaho News
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Unemployment Claims Fall, Hiring Remains Slow

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Getty 062012 Unemployment?  SQUARESPACE CACHEVERSION=1348157844365iStockphoto/Thinkstock(WASHINGTON) — Claims for jobless benefits fell by 3,000 last week to 382,000, but the slight decrease suggests hiring remains weak.

“The unemployment claims numbers did decline, which is always good,” economist Joel Naroff said Thursday. “Unfortunately, the level of claims seems to indicate that the labor market is going nowhere.”

The U.S. Labor Department says there were no special factors skewing last week’s results. Only 96,000 jobs were created last month.

“It looks like businesses have really become cautious about hiring, with the election coming soon and with the fiscal cliff looming at the end of the year – it doesn’t appear that there’s any appetite to hire more people,” Naroff said.

“I don’t expect any major acceleration in hiring until we get a better picture of where the world economy and the U.S. economy is headed.”

Copyright 2012 ABC News Radio

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