New jobless claims rose to their highest point in seven years due to the weakening economy and the recent hurricane season, according to a report released today by the Department of Labor.
New requests for jobless benefits for the one-week period ended Sept. 20 rose by 32,000 to a seasonally adjusted 493,000 claims.
The number of new claims was the highest since the aftermath of the 9/11 terrorist attacks, when they hit 517,000.
The Department of Labor estimated that the effects of Hurricane Gustav in Louisiana and Hurricane Ike in Texas added approximately 50,000 claims to the total.
In another piece of dismal economic news, orders for durable goods — products built to last at least three years — fell 4.5%, according to the Department of Commerce.
Economists were expecting orders to fall 1.6%, according to the Associated Press.
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