New Jobless Claims at 8-Year High
The number of Americans applying for unemployment insurance jumped in late March to 543,000, the highest level since January 1983, the Labor Department said yesterday. The report suggested that the economy was still mired in recession. After the figures were released, interest rates on Treasury securities fell, as they often do on publication of statistics that indicate weakness in the economy. The data also suggested that the unemployment rate for March, to be announced by the Labor Department today, will show a rise from February's 6.5 percent level.
