Feb. could be worst month yet for jobless claims

Feb. could be worst month yet for jobless claims

finance.yahoo.com

WASHINGTON (AP) -- February is shaping up to be another brutal month of job losses: The number of laid-off workers receiving unemployment benefits hit an all-time high of nearly 5 million, and new jobless claims are at levels not seen since the early 1980s.
The Labor Department reported Thursday that the number of people receiving regular unemployment benefits rose by 170,000 to 4.99 million for the week ending Feb. 7, marking the fourth straight week continuing claims have hit a record.

The surge in joblessness has pushed those claims far above the 2.77 million people getting benefits a year ago. The number totals 6.54 million with the inclusion of an additional 1.5 million people who are getting extended benefits under a program passed by Congress last summer.

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6.54 million people drawing unemployment. Wow.

And it's going to get worse.

So many people, who did nothing wrong, now are forced to live off the system that helped cause the problem.

How long will this keep up? Will it ever stop?

I can't find a single reason to be optimistic anymore.

It all just sucks.




finance.yahoo.com
(visit the link for the full news article)