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Jobless claims hit highest point since March 2002 (AP)

Ramon Pichardo pauses on a street corner near his home in the Washington Heights section of New York on Wednesday, July 30, 2008. Pichardo recently lost his job as a cook and has applied for unemployment benefits. The Labor Department reported Thursday, Aug. 7, 2008 that the number of newly laid off people signing up for jobless benefits last week climbed to its highest point in more than six years as companies cut back given the faltering economy. (AP Photo/Mark Lennihan)AP - The nation’s jobs market sent a fresh cry of distress as the number of newly laid off people unexpectedly hit the highest level in more than six years, a Labor Department report showed Thursday.

Original post by AP

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