The number of U.S. workers filing new claims for jobless benefits jumped by 30,000 to a 26-year peak last week, government data on Wednesday showed, as the country's year-long recession continued to chill the labor market.
Initial claims for state unemployment insurance benefits rose to a seasonally adjusted 586,000 in the week ended Dec 20 from a revised 556,000 the prior week, the Labor Department said. It was the highest since the week ended Nov. 27, 1982, when intial claims rose 612,000.
Analysts polled by Reuters had forecast 560,000 new claims versus a previously reported count of 554,000 the week before.
Let's look out for each other. It's bad out there.