The number of Americans looking for unemployment benefits has reached a six-year high. The US Department of Labor on Thursday, August 4, claimed 455,000 Americans filed for unemployment benefits in the week ending on August 2.
The new numbers show an increase of two percent from the previous week. The number of applicants is at its highest since March 2002.
Over a four-week average, the number of applicants seeking jobless benefits was 419,500, which is the highest number since July 2003.
On Friday, August 1, the unemployment rate in the US reached 5.7%. Economists predict the rate could increase to 6.5% by the middle of 2009.