MW: Continuing jobless claims jump by 185,000 to record 5.47 mln
The number of people collecting state unemployment benefits jumped by 185,000 to a record seasonally adjusted 5.47 million in the week ending March 7, while new claims dipped by 12,000 to 646,000 in the week ending March 14, the Labor Department reported Thursday. The four-week average of new claims rose by 3,750 to 654,750, the highest level in 26 years. The insured unemployment rate - the proportion of covered workers who are receiving benefits - rose by two-tenths of a percentage to 4.1%, the highest in nearly 26 years.
