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In the coming months, as many as 1.5 million jobless Americans will exhaust their unemployment insurance benefits — for some a last bulwark against foreclosure and destitution.
We are now looking at unemployment numbers that undermine any confidence that we might be nearing the bottom of the recession. The appropriate metaphor is not the green shoots of new growth. A better image is to look at the true total of jobless people as a prudent navigator looks at an iceberg. These 9 signs suggest that the U.S. recession is even worse than previously thought.
New orders for long-lasting U.S. manufactured goods saw their biggest gain in 16 months in April and fewer workers filed for new jobless benefits last week, according to data on Thursday that suggested the deep recession was abating.
Pfizer Inc. is unveiling a new program Thursday that will let people who have lost their jobs and health insurance keep taking some widely prescribed Pfizer medications - including Lipitor and Viagra - for free for up to a year.
New jobless claims rose more than expected last week due partly to an increase in layoffs by the automobile industry, while the number of people continuing to receive unemployment benefits set a record for the 15th straight week.
California's unemployment rate hit 11.2% with the loss of 62,100 jobs last month, reaching its highest level since the government began keeping systematic records in 1976, the state reported today.
The nation's unemployment rate rose to 8.1% in February, the Labor Department reported this morning, adding another grim indicator to an economic picture already darkened this week. The jobless rate stood at its highest point since 1983.