Thursday, March 12, 2009

Thursday Is New Jobless Day

Still in holy crap (official academic econ jargon) territory.
In other economic news, the number of U.S. workers filing new claims for jobless benefits rose 9,000 last week and so-called continued claims notched a fresh record as a year-long recession continued to slam the labor market, data on Thursday showed. The Labor Department said initial claims for state unemployment insurance benefits increased to a seasonally adjusted 654,000 in the week ended March 7 from a revised 645,000 the week before.

Continuing claims hit record 5.32 million.