Louisiana's unemployment trust fund is facing a serious shortfall. Louisiana Work Force Commission Secretary Ava Dejoie says "we never thought we would talk about the fund going bankrupt, but we are now talking about the trust fund going bankrupt."
First-time claims for unemployment benefits dropped slightly last week from the previous week, but it was a 21 percent increase from a year ago. The Louisiana Workforce Commission reported 3,308 initial claims, down 52 from the previous week.
Wall Street advanced as investors reacted to news out of Europe as the Dow Jones Industrial Average gained 208 points. Mark Lasseigne has your market report on today's Acadiana Business Index.
Stocks leapt after reports that Greek Prime Minister George Papandreou could submit his resignation, casting doubt on his plan for a vote on the country's bailout package
Stocks whipped from positive to negative territory throughout the day even as storm clouds are forming over the European Union summit this weekend to purportedly solve all of the Continent's problems. Mark Lasseigne has more on today's Acadiana Business Index.