Claims for unemployment benefits shot up by 12,000 last week, bringing the seasonally adjusted total to 465,000. Although the four-week average decreased by 3,350 to 463,250, last week’s increase underscores the lagging and unpredictable nature of the labor market’s recovery.
Also in the news…
- The News-Gazette reports that about 8 percent of Illinois residents will qualify for government assistance to pay for health insurance
in 2014. The insurance premium tax credits are a part of the
Patient Protection and Affordable Care Act and will be available mostly
to low- and middle-income residents.
- Anonymous sources close to Cook County Sheriff Tom Dart have confirmed that he will run for mayor of Chicago. While Dart himself doesn’t plan on making an official announcement for three to four weeks, a Chicago businessman and close friend told the AP that Dart has already called local luminaries to inform them about his decision.
- Some of President Barack Obama’s contentious Patient Protection and Affordable Care Act provisions will go into effect today. The major changes to the heath care system include providing family coverage to young adults until they turn 26, prohibiting insurance companies from canceling coverage for the ill, and removing co-pays for preventive care services.
–compiled by Ryan Jacobs and Louis McGill