Jobless Claims Hover At 450K

Weekly jobless claims rose by 36,000 to 482,000, bringing the four-week average of weekly claims up to 448,250, the Department of Labor reported today.

States also reported 5.6 million people were receiving Emergency Unemployment Compensation benefits the week ended Jan. 2, the extended unemployment benefits program enacted in 2008 and recently extended; this is a 652,000 increase from the week before and indicates that many unemployed are staying out of work for longer than before.