U.S. Unemployment Lines Longest in 26 Years

[Leftest]

Initial jobless benefit claims rise 30,000 to 586,000 in latest week

First-time applications for state unemployment benefits jumped by 30,000 to a seasonally adjusted 586,000 in the week ended Dec. 20, the government said, based on reports of actual filings at state offices around the nation. That's the highest since November 1982. Read the full report.

The four-week average of new claims -- which smooth out distortions caused by bad weather, strikes or the timing of holidays -- rose by 13,750 to 558,000, the highest since December 1982.

Meanwhile, the number of people collecting benefits fell by 17,000 to 4.37 million in the week ended Dec. 13. The four-week average of continuing claims rose by 93,000 to 4.32 million, the most since December 1982.

The jobless claims report shows businesses are laying off workers at a rapid pace, and finding a replacement job is ever harder for those who have lost their job.


http://www.marketwatch.com/news/story/unemployment-lines-longest-26-years/story.aspx?guid={36871E60-4D54-42EB-9394-477D023111F0}

[louis-t]

1. And who was pres 26 years ago?

Could it be? St. Ronnie?

[ixion]

2. just wait for 2k9

we ain't seen nothing yet, IMO.

[Orwellian_Ghost]

3. K&R

[Hydra]

4. As one of my friends say

"Just swirling the drain..."