According to the weekly report from the Labor Department, new jobless claims have fallen to the lowest level since July 2008, declining 34,000 for the week ending on Christmas Day. Apparently “seasonal layoffs” often pick up in that week, which seems particularly shitty, so we’re glad this year they didn’t. The Wall Street Journal reports that this decline “provides some basis for optimism” about the labor market in general — maybe we’ll finally beat back that 9.8% unemployment rate in 2011. Crossing our fingers for the new year.
This article from the Village Voice Archive was posted on December 30, 2010