New Jobless Claims Jump Unexpectedly to 669K

WASHINGTON (AP) - The number of people filing new jobless claims
rose unexpectedly last week, while those continuing to receive
benefits hit a record for 10th straight week.
Both figures show the labor market remains weak and is unlikely
to recover anytime soon.
The Labor Department says initial claims for unemployment
insurance rose to a seasonally adjusted 669,000 from the previous
week's revised figure of 657,000. That total is above analysts'
expectations and is the highest in more than 26 years, though the
work force has grown by about half since then.
The tally of laid-off workers claiming benefits for more than a
week rose 161,000 to 5.73 million, a 10th straight record-high and
also worse than analysts expected.

Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus