The number of U.S. workers filing new claims for jobless benefits surged to a 26-1/2-year high last week, data showed today, indicating that layoffs have yet to peak even as other reports signaled some improvement in the economy, according to Reuters. The Labor Department report also showed the ranks of unemployed who have claimed more than one week of aid hit a record peak last month, underscoring the hardships of finding a new job in a recession that has entered its 16th month. The Commerce Department, meanwhile, said on Thursday that new orders received by U.S. factories rebounded in February, snapping a six-month streak of declines. Orders for expensive, durable items were stronger than earlier thought, and demand for short-lived goods also edged up, it said. That data came on the heels of stronger-than-expected reports on housing and retail sales that have raised some hope a bottom in the economy's downturn might be in sight.
