Unemployment Rates Continue to Rise - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Unemployment Rates Continue to Rise

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The Labor Department released unemployment numbers.

The number of Americans applying for unemployment benefits hit 382,000 last week, the highest it's been in two months.

The Labor Department says the number of applications for unemployment usually reflects the pace of layoffs, but the impact of Hurricane Isaac, which affected work in nine states, is also partly responsible for the higher unemployment.

 

In response, the Federal Reserve announced a plan hoping to stimulate job growth. They will spend $40 billion a month buying bonds and will continue to do so until the job market starts to improve.

The Fed will also keep interest rates near zero through the middle of 2015 to help both businesses and consumers.

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