For the third month in a row, Upshur County's unemployment rate remains steady at 4.6%, bucking upward trends in both the Texas and U.S. rates.
Data released monthly by the Bureau of Labor Statistics continue to show the county resisting broader trends in unemployment, seen both statewide and nationally.
An informal survey of builders and realtors in the county suggest a moderate slow down of housing starts, with the residential resale market holding steady in volume, with a slight decrease in sales prices.
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The company released a statement today confirming reports that it's lenders had extended the temporary default waiver until Monday.
The company's stocks surged .48 cents on the news, with shares closing the day at 1.02.
Company press release follows:
PITTSBURG, Texas, Nov. 26 /PRNewswire-FirstCall/ -- Pilgrim's Pride
Corporation (NYSE: PPC) today announced that it has reached an agreement with
its lenders to extend the temporary waiver under its credit facilities through
noon (CT) on December 1, 2008. Pilgrim's Pride continues to pursue
opportunities to refinance and recapitalize its business, and to position
itself to capitalize on its strategic advantages.
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