Jobless Claims Reach 16-Year High (AP)
Posted to the New York Times site this morning:
Jobless Claims Reach a 16-Year High
By THE ASSOCIATED PRESS | November 20, 2008
WASHINGTON—New claims for unemployment benefits jumped last week to a 16-year high, the Labor Department said Thursday, providing more evidence of a rapidly weakening job market expected to get even worse next year.
The government said new applications for jobless benefits rose to a seasonally adjusted 542,000 from a downwardly revised figure of 515,000 in the previous week. That was much higher than Wall Street economists’ expectations of 505,000, according to a survey by Thomson Reuters.
That is also the highest level of claims since July 1992, the department said, when the economy was coming out of a recession.
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One Response to “Jobless Claims Reach 16-Year High (AP)”
Job Seeker says:
January 30, 2009 at 7:15 pm
still unemployment levels are under 10% but it’s the most in my lifetime.I wonder if we aren’t over hyping things though…