Jobless Claims Skyrocketing

Story Published: May 1, 2008 at 11:01 AM EDT

Story Updated: May 1, 2008 at 11:01 AM EDT

By WKBW News

The number of newly laid off workers filing claims for unemployment benefits soared last week.

The Labor Department reports that claims for unemployment benefits rose by 35,000 to 380,000. Private economists had expected
claims would rise by a smaller 18,000.

The report on jobless claims came a day ahead of a report on unemployment for April. Economists expect that report will show
that the unemployment rate edged up to 5.2 percent in April, from 5.1 percent in March. The economy is expected to lose 70,000 jobs,
the fourth straight month of job losses.

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