Thursday, April 16, 2009

Thursday Is New Jobless Day

Initial claims a bit better, but still deep into holy crap territory.

Initial claims for state unemployment insurance benefits declined 53,000 to a seasonally adjusted 610,000 in the week ended April 11 from a revised 663,000 the week before, the Labor Department said.

...

It was the highest level of continued claims on record and pushed the insured unemployment rate to 4.5 percent, the highest since 1983, from 4.4 percent the previous week.