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News Flash: Nation Sees More Jobless Claims Than Expected

The number of Americans filing new claims for jobless benefits went up by a larger than expected rate last week, according to The New York Times.

Claims for state unemployment insurance benefits increased to 478,000 in the week that ended Oct. 18, from 463,000 the previous week, the Labor Department said. Apparently it was the 26th consecutive week that claims were above three million, which the NYT touts as a "sign that the slowing economy was making it harder for workers to find jobs."

“The story is that the underlying trend is moving up pretty strongly and job losses are clearly getting worse,” said Nigel Gault, chief United States economist at Global Insight in Lexington, Mass.

Source

Join The Conversation
syako syako 8 years
You have to remember that the hurricanes in Texas put lots of people out of work temporarily. I know a lot of people in the Galveston area out of work due to the hurricane, but not really "jobless"
ilanac13 ilanac13 8 years
i wonder what the largest jump of people filing in a week is. this is really scary to think that unemployment keeps going up and up. i hope that there's light on the horizon and that there are some sectors that are safe from these declines or that we see some start to rebound. it makes you really worry about the security of your job.
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