Jobless Claims Increase -- Again

unemploymentNewly released Labor Department numbers show that while economists had expected a drop in new jobless claims, the number of people filing for first-time unemployment benefits has actually increased yet again-the fourth increase in the past five weeks.

Reported new claims reached 480,000, the highest figure in two months. The unemployment rate is forecast to rise to 10.1 percent.

Meanwhile, employers continue to cut jobs. Wal-Mart announced Wednesday that it will cut 300 jobs at headquarters, after cutting nearly 14,000 in the last year. Sony is cutting approximately 100 open positions and laying off 450 people.

Oregon had the greatest increase in claims. But there is some (slight) good news: California, Michigan, North Carolina, Georgia, and Missouri have all reported decreases.

Extended benefits were available in Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, the District of Columbia, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, Washington, West Virginia, and Wisconsin during the week ending Jan. 16.

-- 10 Companies Hiring Right Now

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Norman Prevatte

This has just started. I'm sorry but socialism does not work! I've seen it in Europe, Korea, and a few other places. We are about to have a depression that will make 1929 like a holiday. Keep believeing in these teenagers, and you will find out. We must vote out ALL of congress, both parties. We need new blood that is not bought and paid for by special interests.

Norman Prevatte
Stafford, VA

February 18 2010 at 3:12 PM Report abuse rate up rate down Reply
Joseph Cautilli

Sadly Republicans rather fiddle while Rome burns...

February 11 2010 at 10:22 AM Report abuse rate up rate down Reply

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