Firing Fades Without Hiring as Obama Pushes Payroll Tax Cuts
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Joblessness in the U.S. has declined far less than firings since the recession ended in 2009, creating a record divergence that shows companies lack the confidence to hire.
At 8.6 percent in November, unemployment has fallen 1.5 points from a 26-year high of 10.1 percent in October 2009. By contrast, claims for jobless benefits, which track staff cuts, have decreased 40 percent since peaking at an average 652,500 in the four weeks ended March 27, 2009, to 393,300 in the period ended Dec. 3.