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Emergency Jobless Insurance Claims Surge By Most Ever In Prior Week

Tyler Durden
Zero Hedge [1]
Thursday, December 10, 2009

The number you won’t hear mentioned anywhere in the Mainstream Media: 327,729. That is how many people shifted to Emergency Unemployment Compensation programs in the last week alone, hitting an all time record high of 4.2 million! [2] So as everyone is focused [3]on the benign picture of initial claims in the last week which was “only” 474,000, the number of people rolling off continuing benefits has exploded and is now a stunning 592,579 only in the last two week. Look for this number to keep going into the stratosphere as the 6 month continuing claims cliff keeps getting hit by more and more people who are unemployed and keep looking not only for believable change, but actual jobs to go with it.

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And here is the chart that the administration would love to keep under lock and seal: the cumulative number of people on Emergency Insurance. At this rate those collecting EUC will surpass those on continuing claims (5.5 million) within a month.

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