MarketWatch (11/21/12) Greg Robb

First-time applications for unemployment benefits declined sharply last week, the U.S. Department of Labor reported today, but the number of new claims filed remains at high levels due to the aftereffects of Hurricane Sandy. Initial jobless claims dropped by 41,000 to a seasonally adjusted 410,000 in the week ended Nov. 17. Economists surveyed by MarketWatch had forecast claims would fall to 418,000. Applications for jobless benefits soared in the prior week as the late-season superstorm slammed into the Northeast. Claims rose a revised 90,000 to 451,000 in the prior week, up from the initial estimate of a 78,000 increase to 439,000. A less volatile measure of claims, the four-week moving average, rose by 9,500 to 396,250.

Wall Street Journal (11/21/12) Jon Hilsenrath

U.S. Federal Reserve chairman Ben Bernanke said he would like to continue efforts to hold down long-term interest rates next year. He made the comment about additional asset purchases, buying mortgage-backed securities, and taking other actions at the New York Economic Club. Fed officials must decide at a Dec. 11-12 meeting whether to continue their bond-buying program to drive down interest rates in an attempt to boost borrowing, spending, and investment. Bernanke’s comments suggested he is inclined to press on with the program, though he didn’t say so explicitly.

In September, the Fed said it would keep buying bonds until it saw substantial improvement in the job market. On Tuesday, Bernanke played down the job-market improvement in recent weeks—another suggestion that the Fed intends to continue its policies. “The unemployment rate is still well above both its level prior to the onset of the recession and the level that my colleagues and I think can be sustained once a full recovery has been achieved,” Bernanke said in his statement. The jobless rate was 7.9% in October. Fed officials have said they think it can be reduced to between 5.2% and 6% without producing unwelcome wage inflation.

Washington Post (11/21/12) Steve Vogel

The Army has launched a “Hire a Veteran” education campaign to combat myths about veterans with post-traumatic stress disorder or traumatic brain injury. Recent research by the Society for Human Resource Management—a partner with the Army in the campaign—has shown some employers are concerned about the impact of PTSD and TBI on a veteran’s job performance, as well as the cost of accommodating these veterans in the workplace. Approximately 42% of employers in an SHRM survey believed their companies would face challenges in hiring veterans suffering from PTSD or other mental health issues.

“The myth is they’re not going to be successful,” says Tim Isacco of Orion International, a firm specializing in placing veterans in the private sector. “They will be.” The campaign includes a video and online employer tool kit that can be downloaded at wtc.army.mil/employers. “The first step is to help employers to understand that not all veterans need accommodations,” says Jeff Pons, chief human resources and strategy officer for the society. “And when they do—for PTSD or other disabilities—many of those accommodations can easily be made.” Only 13% of employers were familiar with resources for finding veteran job candidates, Pon says. “That’s not acceptable.”

U.S. Bureau of Labor Statistics (11/20/12)

Employers took 1,360 mass layoff actions in October involving 131,173 workers as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported on Nov. 20. Mass layoff events in October increased by 44 from September, and the number of associated initial claims increased by 8,711.

Over the year, the number of average weekly mass layoff events for October increased by 11 to 286, and associated average weekly initial claims increased by 3,228 to 27,457. Eleven of the 19 major industry sectors in the private economy reported over-the-year increases in average weekly initial claims, with the largest increase occurring in manufacturing. The six-digit industry with the largest number of private nonfarm initial claims due to mass layoffs in October was temporary help services.

PRNewswire (11/20/12)

Labor SMART Inc., a provider of on-demand temporary labor, has released its third quarter and year-to-date results. In the quarter ending Sept. 30, 2012, the company reported revenues of $2,152,243 resulting in a 26% increase in sales over their second quarter revenues of $1,710,324 and an 82% increase over their first quarter of $1,183,716. The company showed a gross profit of $376,162 with a loss of $134,589 for the third quarter. The company also reported total year-to-date revenues of $5,046,283 with $852,470 in gross profits and a slight loss of $108,073 in net income for the first nine months ending Sept. 30, 2012.