The Labor Department said Thursday that 884,000 Americans filed first-time claims for jobless benefits in the week ended Sept. 5—matching the upwardly revised figure for the prior week. This exceeded the number expected by most economists. For comparison, the weekly jobless claims during the Bush recession of the last decade topped a mere 665,000.
Continuing unemployment claims, reported with a one-week lag, came in at 13.39 million, marking an increase of 93,000. The country is in the worst unemployment situation since the 1930’s and there is no end in sight.