Unemployment Benefit Claims Hit Highest Level Since 1982
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Unemployment figures released by the Labor Department this morning show that 667,000 Americans applied for unemployment benefits last week, while the number of people "remaining on the benefits roll after drawing an initial week of assistance increased by 114,000 to 5.112 million." The Washington Post explains that the "new claims are the most since October 1982, although the labor force has grown by about half since then." Additionally, last week's figures were revised upward by 4,000 to 631,000.