Notes from the Economy: Jobless Claims

The Labor Department released its weekly unemployment insurance (UI) claims data this morning.
  • 455,000 workers filed first-time UI claims last week, a jump of 7,000 from the previous week. The number of claims last week had not been seen since March 2002.
  • The four-week average for new UI claims moved up to 419,500, a five-year high
  • The number of continuing claims rose to 3,311,000, also a five-year high
AP: Jobless claims hit highest point since March 2002
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