500,000 new unemployment claims rattles economy, Hound posts 22,000 jobs in a day.

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August 20, 2010

Pasadena, CA — 500,000 Americans filed for initial unemployment claims last week. The figure is the highest in the last nine months. The news immediately resulted in a decline in the Dow Jones Industrial Average.

Although the claims figure is down from its peak of 650,000 in March 2009, it was expected to go down not and not up by this margin. This means that not only are private businesses not hiring, but they are laying off workers in an uncertain economy. The Labor Department said one of the reasons for this was that the construction sector was shedding workers because of a slump in demand. The state and local governments are also cutting jobs to reduce their budget deficits.

In spite of the grim news of the unemployment situation, A. Harrison Barnes strikes a note of optimism. Barnes runs the job search engine Hound. ''I read about the economy too, but my company has been able to come up with over a 22,000 jobs in a day. So there are employers who are hiring all over the country''.

Contact:
Roger Croft
Editorial Coordinator
Hound.com
rogerc@hound.com

About Hound:
Hound is the world leader in the monitoring and reporting of jobs on employer websites, through its active and growing research into all employers throughout the world. With over 300 employees working round the clock, Hound goes to employer websites, collects information about job openings, and reports everything it finds to its members. There are over 700,000 employer jobs listed currently on the site.

Hound has been named one of the Top 20 Best Job Sites by PC Magazine, the #1 Job website by Applicant.com and among the 10 Best Online Job Search Sites by geeksugar. Hound is a company owned by Employment Research Institute, one of the world's largest conglomerates of job search-related companies.


	Jobless rate goes down in 39 states as people stop looking, while Hound lists over 107,000 jobs in seven days. General Electric Hound posts 10,000 jobs in New Jersey even as state's jobless claims up. Midwest states show lowest unemployment rate, Hound finds over 6,000 jobs in those states. Hound posts 95,000 jobs in a week even as Labor Department shows weak job growth in July Washington shows slow job growth as unemployment remains steady, Hound finds 9,000 jobs in state.

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