Continuing Jobless Claims Reach Record Losses

Jobs

Published: March 12, 2009 7:35 am

Last Updated: April 27, 2020 7:31 pm

jobless-line-pic We just got the latest round of weekly jobless claims, and it is still a worker bloodbath out there. This last week’s figure was put at 654,000. Economists had project a reading of 645,000 and there was one estimate as high as 660,000. This was from a prior preliminary report of 639,000, which was revised slightly higher to 645,000.

The four-week average came in at 650,000, which is a gain of 6,750. The problem is that the continuing jobless claims rose by 193,000 to 5,317,000. If the data comparisons are accurate, then this will actually be the highest reading on record since the Labor Department started tracking continued claims.

The beating will continue whether morale improves or not.

JON C. OGG

The Average American Has No Idea How Much Money You Can Make Today (Sponsor)

The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.

But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

¹https://www.fdic.gov/national-rates-and-rate-caps