“Ye offspring of vipers, who warned you to flee from the wrath to come?” Luke 3:7

Continuing jobless claims at highest level since Gov’t began keeping records

Thu, 29th January, 2009 - Posted by Joshuah

Source: money.cnn.com

The number of jobless American workers receiving unemployment checks rose to the highest level since the government began keeping records in 1967.

A Labor Department spokesman said the number of Americans drawing jobless benefits for a week or longer rose to 4,776,000 in the week ended Jan. 17, the latest data available.

The number eclipses the prior mark set in November 1982, when 4,713,000 million Americans drew benefits.

Americans who moved to collect their first unemployment checks rose for the third consecutive week, to 588,000, according to a government report released Thursday.

The number of Americans filing for unemployment claims has surged by 61% from this time a year ago.

The Labor Department said initial filings for state jobless benefits rose by 3,000 for the week ended Jan. 24 from a downwardly revised 585,000 claims filed the prior week.

Economists polled by Briefing.com expected the reading to fall to 575,000 claims.

Full Story

Technorati Tags:

Related Items

  • Economy in U.S. Probably Shrank More Than Previously Estimated
  • U.S. jobless rolls swell to record 5.47 million
  • U.S. estimated to have lost 525,000 jobs in January
  • Jobless claims surge and housing starts tumble
  • New jobless claims surge to 26-year high
Category : Economics