August 7, 2008 | Filed Under News
Many analysts have predicted that the worst of the economic downturn has yet to come. Despite the fact, we’re now at a six year low in terms of jobless claims.
According to the Department of Labor, new applications for unemployment insurance rose to 455,000. As of August 2nd, this increase means that claims are at the highest level since March 2002.
Efforts to excuse this staggering news were minimal, with the exception of an analyst that blamed technological advancements intended to track jobless benefits as a reason for the higher than expected claims.
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