The number of newly laid off people signing up for jobless benefits last week climbed to its highest point in more than six years as companies cut back given the faltering economy.I wonder if Phil Gramm would consider these people whiners.
The Labor Department reported Thursday that new applications filed for unemployment insurance rose by a seasonally adjusted 7,000 to 455,000 for the week ending Aug. 2. The increase left claims at their highest level since late March 2002.
A program to locate people eligible for jobless benefits played a role in the increase, a Labor Department analyst said. However, the analyst couldn't say how much of a role.
The latest snapshot of layoff filings was worse than analysts expected. They were forecasting new claims to drop to around 430,000.
Thursday, August 07, 2008
Jobless Claims Surge
Jobless claims surge to highest level in 6 years.