Brought to you by WBIW News and Network Indiana
Last updated on Friday, May 6, 2011
(UNDATED) - Applications for jobless benefits jumped suddenly by 43,000 last week.
Jerry Conover, Director of the Indiana Business Research Center at I.U., says the spike in jobless benefits claims is a little surprising.
Conover says the recent drop in the national unemployment rate is encouraging but it will take at least another two or three years to get to the levels seen before the recession.
He says while the spike in unemployment began earlier, rising gas prices could be a contributing factor because of companies not hiring and, in some cases, laying off workers to compensate for spending more money on fuel needed for shipping and running equipment.
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