re: #48 FightingBack

Unemployment (over 7%)

Jobless Claims Hit All-Time High
(The actual number, not the percentage-gmsc)

WASHINGTON — The number of unemployed workers receiving unemployment benefits jumped to an all-time high near 5 million earlier this month, while new jobless claims remain well above 600,000. Both figures were worse than expected and new projections from the Federal Reserve show unemployment rising for the rest of this year.

The Labor Department reported Thursday that the number of people receiving regular unemployment benefits edged up to 4.99 million, marking the fourth straight week those receiving benefits have been at a record level.

The continuing claims figure underscores the difficulty people are having in this recession finding another job, which means they are forced to receive benefits for a longer period.

An additional 1.5 million people are receiving benefits under an extended unemployment compensation program approved by Congress last year, bringing the total number of people receiving unemployment benefits to 6.54 million for the week ending Feb. 7.