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Hurricane Sandy Pushes Jobless Claims Up To Highest Level In 18 Months

Huffington Post- by CHRISTOPHER S. RUGABER

WASHINGTON (AP) — Superstorm Sandy drove the number of people seeking unemployment benefits up to a seasonally adjusted 439,000 last week, the highest level in 18 months.

The Labor Department says applications increased by 78,000 because a large number of applications were filed in states damaged by the storm. People can claim unemployment benefits if their workplaces close and they don’t get paid.

The storm may distort claims for another two weeks, the department has said.

The four-week average of applications, a less volatile number, increased to 383,750.

Before the storm, applications fluctuated between 360,000 and 390,000 this year. At the same time, employers added an average of nearly 157,000 jobs a month. That’s barely enough to lower the unemployment rate, which was 7.9 percent in October.

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2 Responses to Hurricane Sandy Pushes Jobless Claims Up To Highest Level In 18 Months

  1. Jolly Roger says:

    The NYC economy isn’t going to come back from this, and the national collapse may be blamed on these events, or said to have started here. The jig is up on the missing gold, the economic indicators can no longer be credibly fudged, and most of the population has lost all confidence in our government and financial system. The dollar is toast around the world, and Americans are hated around the world. Things may start spiraling out of control very quickly now.

    • diggerdan says:

      And like the song goes ” It`s been a long time coming” – and I wish I knew who did that song. – was it crosby stills nash and young? It think so – what a good song!!

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