Jobless claims highest since '05

The number of U.S. workers applying for unemployment benefits grew by 38,000 last week.
APR 03, 2008
The number of U.S. workers applying for unemployment benefits grew by 38,000 last week, increasing the number of initial jobless claims to a nearly three-year high of 407,000 for the one-week period ended March 29, according to the Department of Labor. The increase in unemployment claims, which was the largest since the week of Sept. 17, 2005, is the latest sign that consumer spending — a key indicator of economic activity — could slow. The four-week moving average of new claims filed was 374,500, an increase of 15,750 from the previous week and the highest reading since October 2005. Meanwhile, new jobless claims for the one-week period ended March 22 were revised upward to 369,000, from the 366,000 claims that were originally reported.

Latest News

How AI search aided scam from phony NFL player, fake financial advisor
How AI search aided scam from phony NFL player, fake financial advisor

Daejon Love and Taylor Chan's $1.3 million romance fraud scheme exposes how AI search engines can be manipulated by fabricated online identities

Schwab ordered to pay clients $1.34 million in crypto dispute involving elderly client
Schwab ordered to pay clients $1.34 million in crypto dispute involving elderly client

“It was a third party scam,” said the attorney representing the claimants.

RIA moves: Mercer adds to Atlanta presence with veteran advisor from Northern Trust
RIA moves: Mercer adds to Atlanta presence with veteran advisor from Northern Trust

Meanwhile, &Partners draws another Commonwealth practice, and Wealthcare welcomes a $550 million planning practice in the Northeast.

CogniCor adds wealthtech veterans to board in renewed RIA push
CogniCor adds wealthtech veterans to board in renewed RIA push

Palo Alto AI platform recruits RIA and fintech leaders as industry data show AI adoption reshaping advisor staffing.

Advisor moves: Merrill draws $1.2 billion UBS team in New Mexico
Advisor moves: Merrill draws $1.2 billion UBS team in New Mexico

Meanwhile, Raymond James, Wedbush, and LPL recruited veteran advisors from across Texas, North Carolina, and California.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income