Unemployment Filings Reach 26-Year High

[Liberal_in_LA]

http://www.washingtonpost.com/wp-dyn/content/article/2008/12/24/AR2008122401234.html?hpid=topnews

Unemployment Filings Reach 26-Year High

By Annys Shin
Washington Post Staff Writer
Wednesday, December 24, 2008; 12:39 PM

The number of people filing for unemployment benefits hit a 26-year high last week, as the deepening recession forced more employers to cut jobs.

First-time claims for unemployment rose 5.4 percent, to 586,000 for the week ending Dec. 20, the Labor Department reported this morning. The last time claims were that high was Nov. 27, 1982. The four-week moving average, which is a less volatile indicator, rose to 558,000 from 544,250, also a 26-year high.

Orders for durable goods, such as appliances and televisions, dropped 1 percent to $186.9 billion, the U.S. Census Bureau said today. It was the fourth consecutive monthly drop but a much smaller decline than the 8.4 percent drop in October, thanks largely to orders for defense-related goods. Excluding those, which can vary widely quarter to quarter, new orders decreased by 0.9 percent.

[TahitiNut]

1. Gotta love those holiday season lay-offs, huh?

Scrooge is alive, well, and unrepentant. :shrug:

[Selatius]

2. In January, the December jobs report will be released. I expect it to be absolutely terrible. nt

[SOS]

3. And it's just starting

2009 is gonna be unbelievable.

[MUAD_DIB]

4. Ya think?

[SOS]

6. Looks that way...

[Joe the Liberal]

5. Republican economics at work.......

Cutting your wages
Busting your unions
Laying you off
and giving your money to bankers and Wall Street.

You betcha!