Continuing jobless claims set record
Find a Conversation
| Thu, 02-19-2009 - 11:01am |
The number of Americans continuing to file for unemployment benefits has hit a record high, according to a government report released Thursday.
The number of workers receiving unemployment checks for one week or more rose to a record 4,987,000 in the week ended Feb. 7, the most recent data available. That tops the previous week's revised level of 4,817,000.
The Labor Department has been keeping records since 1967.
The record high level of continuing claims was "troubling," according to Adam York, economic analyst at Wachovia.
"When people are losing their jobs, they are not finding new ones quickly," said York.
The 4-week moving average for continuing claims was 4,839,500, an increase of 92,500 from the preceding week's revised average of 4,747,000.
More..... http://money.cnn.com/2009/02/19/news/economy/jobless_claims/?postversion=2009021909




A SIL's DH rec'd his 60 day notice...he's been with his employer for about 25 yrs.
"the option of taking early retirement"
They've been asking for volunteers to take early retirement where DH works. They let go one guy that had been with them longer than DH. He received a year & half salary, health insur. for the same period plus finished paying for the remainder of his tuition for his masters $50K.
"they have overstretched themselves financially"
Wow! They thought the good times would last forever. They're not alone.