| GEO Business|
| US jobless claims hit record high|
| Updated at: 1333 PST, Friday, February 20, 2009|
WASHINGTON - The Labor Department reported Thursday that the number of Americans claiming jobless benefits for more than a week inched closer to the all-time high of 5 million, while new jobless claims stayed flat.
Almost 5 million in U.S. getting jobless benefits, which is all time high after 1967. The available data showed that US industrial and refinery companies’ products prices surged by 0.8 percent, which could further aggravate the situation.
It may be recalled that currently US unemployment rate has shot up all-time high at 7.6 percent.