Thursday, November 20, 2008

Jobless claims jump unexpectedly to 16-year high


Not to whine, but in the past month I've not gotten one single call-back/email-back nada on any resumes I've sent out and the Sunday want ads in my area is down to 2 back and front pages with HUGE ads taking up most of the space. Not good.

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's 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 U.S. economy was coming out of a recession.

blog comments powered by Disqus

Recent Posts