U.S. Economy: Jobless Claims Climb to Highest Level Since 1982
Despite President Obama and his administration along with Fed Chairman Ben Bernanke desperate efforts to re-inflate the economy through tens of trillions of taxpayers’ money, jobless rates continue to rise adding to the total number of unemployed Americans.
When will we see real results to all this massive spending? Banks continue to hold back on lending while more people go unemployed and risk losing their homes and other assets.
U.S. Economy: Jobless Claims Climb to Highest Level Since 1982
By Shobhana Chandra
April 2 (Bloomberg) — The number of Americans seeking jobless benefits last week climbed to the highest level in 26 years, providing a reminder that unemployment will keep mounting long after the economy stabilizes.
Initial jobless claims swelled by 12,000 to 669,000 in the week ended March 28, the most since 1982, the Labor Department said today in Washington. A Commerce Department report showed orders to factories improved in February for the first time in seven months…[FULL STORY]
