New unemployment claims jumped up 1,000 to 427,000 last week according to the Labor Department. Economists predicted unemployment claims would drop. Manufacturing is slowing, consumer spending is down and the housing market is still crashing. New unemployment claims per week have stayed above 400,000 for 9 straight weeks. Currently, 7.6 million Americans are collecting unemployment benefits while 14 million Americans are out of work.
Unemployment Claims Jump
