Jobless claims fall below 500,000, EmploymentCrossing finds 200,000 jobs.

August 27, 2010   |    PDF version

Pasadena, CA  — The initial jobless claims for this week dropped to 473,000 from a high of 504,000 the previous week. The stock markets received this news with mixed reactions as investors are still nervous over the persistent high rate of unemployment at 9.5 percent and a general reluctance among employers to hire workers.

The four week average of initial jobless claims was 486,750. Economists give more importance to this figure since it gives a broader picture than a week to week figure which fluctuates based on several factors. But even this figure is the highest since November 2009. The total number of people getting unemployment benefits as of August, 7 is 10.1 million.

In spite of the grim news of the unemployment situation, A. Harrison Barnes strikes a note of optimism. Barnes is owner and CEO of Employment Research Institute, which has among other companies, EmploymentCrossing, a job aggregator website. ''I read about the economy too, but my company has been able to come up with over a list of over 200,000 jobs. So there are employers who are hiring all over the country''.

Contact:
Roger Croft
Editorial Coordinator
Employment Research Institute
626-243-1814
rogerc@employmentresearchinstitute.com

About EmploymentCrossing:
EmploymentCrossing is part of the Employment Research Institute, which is one of the most powerful and comprehensive organizations dedicated to helping professionals find jobs that will enhance their careers. Employment Research Institute consists of hundreds of industry-specific and location-specific job boards which consolidates every job opening it can find in one convenient location. The website also offers a seventy two-hour free trial to new members.