Foreign-Worker Arrivals Continue as Jobless Claims Rise to 26-Year High
With the new numbers, job losses for the year are expected to exceed two million. In anticipation of these numbers, President-elect Barack Obama expanded his economic stimulus plan last week to call for the creation of three million jobs.
Since the start of 2008, the weekly initial claims level has increased by more than 200,000.
More on this story can be found at Bloomberg.com.