Jobless claims set new record; GDP down more in 4Q
Jobless claims set new record for 9th straight week; economy worse than thought in 4th-quarter
The U.S. unemployment rate, released earlier this month, rose to 8.1 percent in February, the highest in more than 25 years. Economists predict the national jobless rate will hit 10 percent by year end even if the recession were to end later this year as some hope.
Michigan's jobless rate climbed to 12 percent, the highest in the country. South Carolina registered the second-highest at 11 percent and Oregon came in third at 10.8 percent.
North Carolina came in fourth with an unemployment rate of 10.7 percent, the highest there on records dating back to 1976. California and Rhode Island tied for fifth place at 10.5 percent each. That was an all-time high for Rhode Island. The seventh state with a jobless rate above 10 percent was Nevada at 10.1 percent.