New jobless claims jumped far more than expected last week in an already dismal labor market, and there’s no relief in sight for workers as mass layoffs persist. The Labor Department says the number of laid-off workers seeking jobless benefits rose last week to a seasonally adjusted 626,000, from the previous week’s upwardly revised figure of 591,000. The latest total is far more than analysts’ expectations of 583,000. That’s also the highest since October 1982, when the economy was in a steep recession, though the work force has grown by about half since then. The number of people who remained on the unemployment compensation rolls increased slightly to nearly 4.8 million, the most since records began in 1967.
U.S. new jobless claims jump to 626K
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