Unemployment filings hit 26-year high

The number of first-time jobless claims was 573,000 for the week ending Dec. 6, a 58,000 increase from the previous week.
DEC 11, 2008
By  Bloomberg
Filings for state unemployment benefits rose last week to their highest level since 1982, the Department of Labor reported today. The number of first-time jobless claims was 573,000 for the week ending Dec. 6, a 58,000 increase from the previous week. Economists polled by Chicago-based Briefing.com Inc. were expecting jobless claims to rise to 525,000 last week. The number of workers continuing to collect unemployment benefits jumped by 338,000 to 4.43 million, also the highest level in 26 years and the largest increase since 1974. The four-week moving average for unemployment insurance claims was 540,500, an increase of 14,250 from the previous week's revised average of 526,250.

Latest News

Investor anxiety hits six-year high amid market turmoil, Allianz finds
Investor anxiety hits six-year high amid market turmoil, Allianz finds

New survey reveals heightened investor concern over market volatility, retirement readiness, and the impact of tariffs on living costs.

Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints
Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints

Stifel – so far - is on the hook for more than $166 million in damages, legal fees and settlements in investor complaints involving Roberts, a 35-year industry veteran.

RIA moves: The Mather Group, Brand Asset Management announce deals
RIA moves: The Mather Group, Brand Asset Management announce deals

Consolidation continues in US wealth management industry.

US broker-dealer fintech aims for global footprint as it acquires international firm
US broker-dealer fintech aims for global footprint as it acquires international firm

Tech company democratizes access to US trading infrastructure.

Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel
Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel

RBC Wealth Management's latest move in New York adds an elite eight-member team to its recently opened Westchester office.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.