Thursday, December 11, 2008

Weekly jobless claims jump to 26-year high

Weekly jobless claims jump to 26-year high

WASHINGTON (Reuters) – The number of U.S. workers filing new claims for jobless benefits surged to a 26-year high last week, Labor Department data showed on Thursday, as a deepening recession forced employers to cut back on hirings.

Initial claims for state unemployment insurance benefits jumped by 58,000, the biggest increase since September 2005, to a seasonally adjusted 573,000 in the week ended December 6 from an upwardly revised 515,000 the previous week. That was the highest print since November 1982, when 612,000 workers submitted new claims for unemployment benefits.

Read the rest of the story here...

(Reporting by Lucia Mutikani; Editing by Walker Simon)

1 comment:

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