Reply #9: U.S. workers on jobless benefits at record high

[ozymandius]

WASHINGTON (Reuters) – The number of U.S. workers drawing jobless aid jumped to a record high in mid-February, while the recession undercut demand for manufactured goods last month and sent new homes sales to their lowest since 1963.

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The number of people remaining on the benefits roll after drawing an initial week of assistance increased by 114,000 to a record 5.11 million in the week ended February 14, the most recent week for which data is available, the Labor Department said.

Initial claims for state unemployment insurance benefits increased to a seasonally adjusted 667,000 last week from 631,000 the prior week, the department said. It was the highest reading since October 1982.

The surge in weekly applications for unemployment benefits implied February's jobs report could show a decline in payrolls in excess of 700,000, according to some economists.

http://news.yahoo.com/s/nm/20090227/ts_nm/us_usa_economy