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Rail News: Rail Industry Trends
2/6/2009
Rail News: Rail Industry Trends
Unemployment filings climb to 27-year high in January's last week, labor department says
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Consider it a sign that the economy isn’t getting any better. During the week ending Jan. 31, 626,000 people filed for first-time unemployment benefits — the highest level since October 1982’s 637,000 filings, according to the U.S. Department of Labor.
The previous week, jobless claims totaled 591,000. The four-week average for weekly claims reached 582,250 vs. the previous average of 543,250.
During the week ending Jan. 24 — the department’s most-recent data — the number of workers receiving unemployment checks for one week or more rose to a record 4.79 million, topping the previous week's record of 4.77 million.
The unemployment rate for the month of January is expected to climb to 7.5 percent, up from 7.2 percent in December. The labor department also projects that employers slashed 500,000 jobs last month.
The previous week, jobless claims totaled 591,000. The four-week average for weekly claims reached 582,250 vs. the previous average of 543,250.
During the week ending Jan. 24 — the department’s most-recent data — the number of workers receiving unemployment checks for one week or more rose to a record 4.79 million, topping the previous week's record of 4.77 million.
The unemployment rate for the month of January is expected to climb to 7.5 percent, up from 7.2 percent in December. The labor department also projects that employers slashed 500,000 jobs last month.