IB Economics IA Commentary. Title of Extract: Economys gains fail to lower jobless rate

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International Baccalaureate Internal Assessment:

Economics Commentary 1

Candidate Name:

Candidate Number:

Date of Commentary: January 3, 2011

Word Count: 730

Pertaining Section of IB Economics Syllabus: 3 (Macroeconomics)

Title of Extract: "Economy's gains fail to lower jobless rate"

Source: Internet - Associated Press in the Honolulu Star Advertiser

http://www.staradvertiser.com/business/20101224_Economys_gains_fail_to_lower_jobless_rate.html#

Date of Extract Publication: December 24, 2010

Economy's gains fail to lower jobless rate

Unemployment filings are falling, but millions of workers remain idle after 26 weeks or more

POSTED: 01:30 a.m. HST, Dec 24, 2010

WASHINGTON " Economic reports suggest employers are laying off fewer workers, businesses are ordering more computers and appliances, and consumers are spending with more confidence. Combined, the data confirm the economy is improving, and further job gains are expected in 2011.

The economy's outlook is brightening even though hiring has yet to strengthen enough to reduce an unemployment rate near 10 percent.

The number of people applying for unemployment benefits fell last week to a seasonally adjusted 420,000, the Labor Department said yesterday. That is the second-lowest level since July 2008.

Applications have fallen below 425,000