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Home | News Briefs | U.S. | World | Celeb Buzz | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird & Offbeat U.S. Weekly Initial Jobless Claims Highest Since April 18 Led By Auto Sector May 14, 2009 11:39 a.m. EST --- Advertisment --- Mayur Pahilajani - AHN News Writer Washington, D.C. (AHN) - U.S. weekly initial jobless claims for insurance increased by 32,000 to 637,000, during the week ending May 9, according to the data released by the Labor Department on Thursday. The claims were up as Chrysler LLC's bankruptcy led the workers to file for unemployment benefits. Last week, the weekly jobless claims hit the highest level since mid-April, and were more than the expectations of the initial claims to jump to 610,000. Auburn Hills, Michigan-based Chrysler filed for Chapter 11 on April 30, when it decided to idle as many as 22 U.S. plants that had around 26,800 hourly workers. The economists expected the auto parts suppliers to slash more jobs after the closing of Chrysler's factories. The four-week average of initial jobless claims moved up by 6,000 to 630,500 last week, compared to the claims at 624,500 the week prior, the report showed. The four-week average, which smoothens out the weekly volatility, was also at the highest level since April 18 during the week ending May 9. The continuing number of individuals collecting regular state unemployment benefits moved up by 202,000 to a seasonally adjusted 6.56 million in the week ending May 2, which was at the record level for the 15th straight week. The four-week average of continuing claims increased 128,750 to 6.34 million for the week ending May 2, from the preceding week's revised average of 6.21 million, the report showed on Thursday. Today's report showed that there were 24 states and territories reported an increase in initial jobless claims. The rest 29 registered a decrease in the unemployment claims for the May 2 week. The largest increases in initial claims were in Illinois with 2,052, followed by Kansas (2,025), Puerto Rico (1,781), Indiana (1,051), and Ohio (1,013). While, the largest decreases were reported in New York (13,386), Michigan (10,952), North Carolina (8,988), Massachusetts (3,705), and Connecticut (2,802).in the same week. The Labor Department report on Thursday showed the unemployment rate for workers with unemployment insurance, which tends to track the U.S. jobless rate, was at 4.9 percent in the week ended May 2, which is the highest since early 1980s, from 4.8 percent. In April, the unemployment rate increased to 8.9 percent, pushing up the total number of jobs cut by the firms in different sectors to 5.7 million jobs since the recession began in December 2007. U.S. companies fired as many as 539,000 jobs in the month of April, which is the highest since several years, the Labor department reported. Copyright © 2003 - 2009 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Home | News Briefs | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat © 2009 AHN Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services All Rights Reserved

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