Some states share in the good news, while others are having a tougher time. There are 33 states where the unemployment rate is under the national average and 14 where unemployment is above the national average.
The actual number of initial unemployment claims under state programs was 269,689 for the week ending May 10. That’s down 19,059 from the previous week, and significantly beat analyst expectations, which had predicted an increase of 2,887.
News that the federal government has decided to forego an extension of long-term benefits for the unemployed prompted the California Employment Development Department (EDD) to fire off a warning notice to impacted workers. A big underlying concern is what happens to those using these benefits to support mortgages.
Layton has over 35 years of experience in financial services and as a corporate leader. He worked for nearly 30 years at JPMorgan Chase and its predecessors, starting as a trainee and rising to vice chairman and member of the three-person Office of the Chairman, retiring in 2004..
"The questions become, ‘Do the courts find a distinction between housing policy and lending, as in whether to make a loan and how you price that loan? Does the government get broader discretion than the private sector?’ ” Andreano said. “It’s not fleshed out.” Read More