Unemployment Benefits Hits All-Time Record
by Buck • Thursday, January 29th, 2009 - 10:44 amNot a record to be proud of.
Our economy is still spiraling downwards, so I’m sure we’ll see this record get broker a few more times, at least. Is it too late to save us?
Americans receiving jobless benefits hits record
WASHINGTON (AP) — The number of people receiving unemployment benefits has reached an all-time record, the government said Thursday, and more layoffs are spreading throughout the economy.
The Labor Department reported that the number of Americans continuing to claim unemployment insurance for the week ending Jan. 17 was a seasonally adjusted 4.78 million, the highest on records dating back to 1967. That’s an increase of 159,000 from the previous week and worse than economists’ expectations of 4.65 million.
As a proportion of the work force, the tally of unemployment benefit recipients is the highest since August 1983, a department analyst said.
