Jobless claims highest in 26 years

CNN Money
Thursday, February 5, 2009

NEW YORK (CNNMoney.com) — The number of Americans filing for first-time unemployment benefits surged last week to a level not seen since October 1982, according to a government report released Thursday.

The number of initial jobless claims jumped to a much-higher-than-expected 626,000 in the week ended Jan, 31, according to the Labor Department. That’s up from a revised 591,000 in the previous week and the highest level since the last week of October 1982, when jobless claims reached 637,000.

(ARTICLE CONTINUES BELOW)

Economists polled by Briefing.com were expecting the number to come in at 580,000 for the most recent week.

The four-week moving average for weekly claims totaled 582,250, up from the previous week’s revised figure of 543,250.

Full story here.

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3 Responses to “Jobless claims highest in 26 years”

1. UncleSam Says:
   February 5th, 2009 at 3:59 pm

   Blew away even Bloomberg’s consensus range. California is not paying state tax returns now, how long before the unemployment insurance benefits dry up?

   You will really have a lot of pissed off people then!

   

   The Alex Jewnes Show Reply:
   February 5th, 2009 at 5:07 pm

   This is what happens when you allow Jews like Ben Shalom Bernanke to take control of your banking system and the Federal Reserve.

   

2. P O F Says:
   February 5th, 2009 at 10:03 pm

   Rescind NAFTA.

   Call and email your Congressmen!!!!!!!!!!!!!!!!!

   Rescind NAFTA!!!!!!!!!! (Since they are worried about the “Buy American” clause in the stimulus bill)