The number of first-timer unemployment filings reached a 16-year high last week, putting total claims at the highest level in 26 years. New unemployment claims are now averaging about 506,500 a week. California is leading the way in new filings as construction workers find work hard to come by; though New York is also seeing its fair share as a result of layoffs in the financial sector. The U.S. Federal Reserve is predicting a National unemployment level of 7.6% for 2009. The most recent monthly jobs report shows a current National average of 6.5%.
See "Lines Grow At U.S. Unemployment Offices", Maurna Desmond, Forbes.com, November 19, 2008