Text 3
New claims for unemployment
insurance dipped last week, suggesting that companies are laying off fewer
workers as the budding economic recovery unfolds. The Labor Department reported
on Thursday that for the work week ending April 27, new claims for jobless
benefits went down by a seasonally adjusted 10,000 to 418,000, the lowest level
since March 23.In another report, orders to U. S. factories rose for the fourth
straight month, a solid 0.4 percent rise in March. The figure was largely
boosted by stronger demand for unendurable goods, such as food, clothes, paper
products and chemicals. Total unendurable goods were up 1.6 percent in March,
the biggest increase in two years. Orders also rose for some manufactured goods,
including metals, construction machinery, household appliances and defense
equipment. The report reinforces the view that the nation’s manufacturers-which
sharply cut production and saw hundreds of thousands of jobs evaporate during
the recession-are on the comeback trail. Stocks were rising again on Thursday.
In the first half-four of trading, the Dow Jones industrial average was up 43
points and the Nasdaq index was up 14 points. In the jobless-claims report, even with the decline, a government analyst said, the level was inflated as a result of a technical fluke. The distortion is coming from a requirement that laid-off workers seeking to take advantage of a federal extension for benefits must summit new claims. Congress recently passed legislation signed into law by President Bush that provided a 13-week extension of jobless benefits. The fluck has clouded the layoffs picture for several weeks. But the government analyst said the refilling requirement is having much less of an effect on the claims numbers than in previous weeks. The more stable four-week moving average of new claims, which smoothes out weekly fluctuation, also fell last week to 435750, the lowest level since the beginning of April. But the number of workers continuing to receive unemployment benefits rose to 3.8 million for the work week ending April 20, evidence that people who are out of work are having trouble finding new jobs. Economists predict that job growth won’t be strong enough in the coming months to prevent the nation’s unemployment rate-now at 5.7 percent-from rising. Many economists are forecasting a rise in April’s jobless rate to 5.8 percent and estimating that businesses added around 55,000 jobs during the month. The government will release the April employment report on Friday. Even as the economy bounces back from recession, some economists expect the jobless rate will peak to just over 6 percent by June. That is because companies will be reluctant to quickly hire back laid-off workers until they are assured the recovery is here to stay. Given the fledging rebound, many economists expect the Federal Reserve to leave short-term interest rates-now at 40-year lows-unchanged when it meets on May 7.The Fed adjusted interest rates 11 times in a row last year to rescue the economy from recession, which began in May 2001. |
A:New claims for jobless benefits. B:The number of workers laid off. C:The number of people living on jobless benefits. D:The number of people finding new jobs.
New claims for unemployment insurance dipped last week, suggesting that companies are laying off fewer workers as the budding economic recovery unfolds. The Labor Department reported on Thursday that for the work week ending April 27, new claims for jobless benefits went down by a seasonally adjusted 10,000 to 418,000, the lowest level since March 23.In another report, orders to U. S. factories rose for the fourth straight month, a solid 0.4 percent rise in March. The figure was largely boosted by stronger demand for unendurable goods, such as food, clothes, paper products and chemicals. Total unendurable goods were up 1.6 percent in March, the biggest increase in two years. Orders also rose for some manufactured goods, including metals, construction machinery, household appliances and defense equipment. The report reinforces the view that the nation’s manufacturers-which sharply cut production and saw hundreds of thousands of jobs evaporate during the recession-are on the comeback trail. Stocks were rising again on Thursday. In the first half-four of trading, the Dow Jones industrial average was up 43 points and the Nasdaq index was up 14 points.
In the jobless-claims report, even with the decline, a government analyst said, the level was inflated as a result of a technical fluke. The distortion is coming from a requirement that laid-off workers seeking to take advantage of a federal extension for benefits must summit new claims. Congress recently passed legislation signed into law by President Bush that provided a 13-week extension of jobless benefits.
The fluck has clouded the layoffs picture for several weeks. But the government analyst said the refilling requirement is having much less of an effect on the claims numbers than in previous weeks. The more stable four-week moving average of new claims, which smoothes out weekly fluctuation, also fell last week to 435750, the lowest level since the beginning of April. But the number of workers continuing to receive unemployment benefits rose to 3.8 million for the work week ending April 20, evidence that people who are out of work are having trouble finding new jobs.
Economists predict that job growth won’t be strong enough in the coming months to prevent the nation’s unemployment rate-now at 5.7 percent-from rising. Many economists are forecasting a rise in April’s jobless rate to 5.8 percent and estimating that businesses added around 55,000 jobs during the month. The government will release the April employment report on Friday. Even as the economy bounces back from recession, some economists expect the jobless rate will peak to just over 6 percent by June. That is because companies will be reluctant to quickly hire back laid-off workers until they are assured the recovery is here to stay. Given the fledging rebound, many economists expect the Federal Reserve to leave short-term interest rates-now at 40-year lows-unchanged when it meets on May 7.The Fed adjusted interest rates 11 times in a row last year to rescue the economy from recession, which began in May 2001.
A:New claims for jobless benefits B:The number of workers laid off C:The number of people living on jobless benefits D:The number of people finding new jobs
Tom (laid) on the (floor), (reading) a (book).
A:laid B:floor C:reading D:book
China’s employment and re-employment situation remains tough with a surge this year in the number of graduates hitting the job market and in unemployment in general, senior official said.
The country’s registered average unemployment rate in urban areas reached 4 percent last year and is expected to go higher this year, Labour and Social Security Minister Zhen Silin told Xinhua yesterday.
There are nearly 14 million laid-off workers in urban areas so far. And more than 11 million new graduates are predicted to enter the work force, Zheng said.
To make things worse, the nation’s agricultural adjustment has forced more than 151 million rural workers to quit farming. Many of them will head to the cities to seek employment, posing uncertainties for the State, he said.
Zheng, who was appointed as the minister during the first session of the 10th Nation al People’s Congress in March, has urged his departments nationwide to do more to assist laid-off workers to restart their lives.
A:Tough Year for Job Seekers. B:College Graduates Challenged by Employment. C:Too Many Workers Laid Off This Year. D:Minister Is Hopeful of Employment Prospectiv
China’s employment and re-employment situation remains tough with a surge this year in the number of graduates hitting the job market and in unemployment in general, senior official said.
The country’s registered average unemployment rate in urban areas reached 4 percent last year and is expected to go higher this year, Labour and Social Security Minister Zhen Silin told Xinhua yesterday.
There are nearly 14 million laid-off workers in urban areas so far. And more than 11 million new graduates are predicted to enter the work force, Zheng said.
To make things worse, the nation’s agricultural adjustment has forced more than 151 million rural workers to quit farming. Many of them will head to the cities to seek employment, posing uncertainties for the State, he said.
Zheng, who was appointed as the minister during the first session of the 10th Nation al People’s Congress in March, has urged his departments nationwide to do more to assist laid-off workers to restart their lives.
A:Laid-off workers. B:New graduates. C:Rural workers. D:All of these peopl
Tom (laid) on the (floor), (reading) a (book).
A:laid B:floor C:reading D:book
A:Being laid off is the biggest blow in one’ s life. B:Layoffs create many health problems such as strokes and heart attacks. C:Layoffs will stop affect once new jobs are found. D:Being laid off is often the result of job insecurity.
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