The number of new claims for unemployment compensation last week reached 453,000 persons which is close to twice the monthly number of jobless claims filed just 2 years ago.

The total number of unemployed has now passed 10% and one in six persons are now considered to be unemployed.

Unfortunately many of the people effected have dropped off the rolls as their unemployment compensation has reached their limits. Others have given up looking for work.

December is expected to be a tragic month for jobs as many employers must cut staff before the end of the year.

Although the number of first time claims has been falling new job creation is nonexistent.

Normally just under 250,000 people will lose or change jobs in the average month but that number is a rolling tally where most people in the past would find work within 30 days. In other words people were exchanging jobs and short term unemployment benefits provided gap protection.

With many employers using firings or resignations as a way to permanently reduce staff to protect workers that want to remain in their positions from layoffs opportunities are just not available.