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April 2nd, 2009

New Jobless Claims Jump Unexpectedly to 669,000

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Written by: The Iowa Republican

The number of people filing new jobless claims jumped unexpectedly last week, while those continuing to receive benefits hit a 10th straight record-high. Both figures show the labor market remains weak and is unlikely to recover anytime soon.

The Labor Department said Thursday that initial claims for unemployment insurance rose to a seasonally adjusted 669,000 from the previous week’s revised figure of 657,000. That total was above analysts’ expectations and the highest in more than 26 years, though the work force has grown by about half since then.

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The Iowa Republican

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