The latest Labor Department numbers indicate an uptick in the number of people applying for unemployment benefits, but the data may not be telling the whole story.
An additional 34,000 Americans applied for unemployment benefits last week, the biggest jump since April 2011. However, the government is taking a closer look at the figures in order to properly take into account seasonal work. For example, automakers shut down production during the summer last year. This year, they’ve not executed the usual shutdown in order to meet demand.
Some experts say it will take a few weeks before the picture becomes clear. The four-week unemployment numbers actually dropped by 1,500 workers to 375,500.
In other words, the economic recovery is sputtering, but there are still small signs of life. On a related note, IBM announced their earnings yesterday and they’re looking for new staffers. Dust off your resume! The company says it will be hiring up to 300 salespeople per month for the rest of the year to get the word out about their software products.
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