Thursday, June 11, 2009

Thursday Is New Jobless Day

Still awful.

Initial claims for state unemployment insurance benefits fell 24,000 to a seasonally adjusted 601,000 in the week ended June 6, the Labor Department said. It was the fourth straight week the number of claims declined or was unchanged.

Analysts polled by Reuters were expecting claims to drop to 615,000 from a previously reported 621,000.

However, the number of people staying on the benefit rolls after collecting an initial week of aid rose to a record 6.82 million in the week of May 30, the latest week for which data is available.

It was the 19th week in a row so-called continued claims set a record.