Jobless Claims Hit 26-Year High

338,000 more people claimed benefits last week
By Ambreen Ali,  Newser User
Posted Dec 11, 2008 8:41 AM CST
A man who lost his job this week speaks with a job seeker who has been out of work for three months at a Wall Street Pink Slip Party in New York.   (AP Photo/Craig Ruttle)
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(Newser) – Some 58,000 jobless Americans filed their first request for unemployment benefits last week, pushing both the number of first-time filers (573,000) and number of
people collecting benefits (4.43 million) to 26-year highs, MarketWatch reports. The post-Thanksgiving week is traditionally high in first-time claims, but rapid layoffs and a deteriorating job market resulted in 60% more filings than last year—twice what analysts had predicted, the Wall Street Journal adds.