First-time unemployment claims plummet, manufacturing layoffs down in 11 states

Manufacturing News, Source : TheManufacturer.com
Published : 05 Aug 2004 15:25

In what could be a sign of a recovering economy, first-time unemployment filings dropped 11,000 to 336,000 for the week ending July 31, the US Department of Labor reported today.

Many states reported decreases in manufacturing-sector layoffs the previous week. Michigan, North Carolina, Indiana, Tennessee, Alabama, South Carolina, Illinois, Virginia, Wisconsin, Florida and New Jersey all reported a drop in manufacturing-sector layoffs for the previous week ending July 24. Not a single state reported a rise in layoffs that same week.

The current overall unemployment rate is 5.6 percent, reported last month by the US Bureau of Labor Statistics.

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