Number filing new unemployment claims rises to second-highest level since last recession


Thursday, October 25th 2001, 12:00 am

By: News On 6


WASHINGTON (AP) _ The number of Americans filing new claims for unemployment benefits rose last week to the second-highest level in nearly a decade. Wages and benefits increased by 1 percent during the July-September quarter, the government said Thursday.

The Labor Department reported that newly laid-off Americans filing for unemployment benefits rose by 8,000 last week to 504,000, a level generally associated with recessions, as the shocks from the Sept. 11 terrorist attacks continued to take a toll on the U.S. economy.

The department also reported that workers' wages and benefits climbed by 1 percent for the three months ending in September, little changed from a 0.9 percent rise for the three months ending in June.

During the last 12 months, Americans' wages and benefits rose by 4.1 percent, down from a 4.3 percent rise in the 12-month period ending in September 2000. Analysts said this showed that the sluggish economy is producing into less generous compensation packages.
logo

Get The Daily Update!

Be among the first to get breaking news, weather, and general news updates from News On 6 delivered right to your inbox!

More Like This

October 25th, 2001

April 18th, 2022

April 18th, 2022

April 18th, 2022

Top Headlines

September 26th, 2022

September 26th, 2022

September 26th, 2022

September 26th, 2022