Americans Getting Unemployment Benefits Hits 42-Year High

The number of Americans currently receiving unemployment benefits rose to 6.6 million in April, the highest rate since record-keeping began in 1967.

New jobless claims fell to 631,000 last week, down from 643,000 the previous week.

Economists expect Big Three automakers Chrysler and GM to shut down plants this summer. These losses, and associates losses for auto parts makers, will drive up unemployment.