Posted on 04/17/2003 5:45:21 AM PDT by Brian S
Thu April 17, 2003 08:35 AM ET
WASHINGTON (Reuters) - More Americans than expected signed up for state unemployment benefits last week, reflecting increased layoffs in the auto industry as the world's richest economy limped forward, a government report on Thursday showed.
First-time jobless claims rose by 30,000 to a seasonally adjusted 442,000 for the week ended April 12, the Labor Department said.
It was the ninth straight week that claims held above the key 400,000 level, regarded by economists as a sign of an unhealthy labor market.
Much of the rise reflects an increase in layoffs in the auto industry, a Labor Department official said.
The gain was well above expectations. Economists in a Reuters poll forecast, on average, that jobless claims would edge up to 411,000.
Those help wanted signs are usually for clerks and burger flippers.
Low paying jobs that can't compete with welfare payments?
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