Didn't I hear that twatwaffle Cramer say this morning that the depression has ended? Yikes.
The number of U.S. workers filing new claims for jobless benefits unexpectedly rose to its highest level in over 26 years last week and so-called continued claims jumped to a record high in March, according to data that underscored the labor market deterioration.
The Labor Department said on Thursday initial claims for state unemployment insurance benefits rose 12,000 to a seasonally adjusted 669,000 in the week ended March 28, the highest since the week ending Oct. 2, 1982, from an upwardly revised 657,000 the week before.
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This was the highest on record and lifted the insured unemployment rate to 4.3 percent, the highest since a matching 4.3 percent in the week ending May 21, 1983. The insured unemployment rate was at 4.2 percent in the week ended March 14.
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