Jobless claims pushed to 7-year high

Government data show the number of new applications for unemployment benefits jumped last week to its highest level in seven years due to the impact of Hurricanes Ike and Gustav and a weak economy

The Labor Department reported today that new requests for jobless benefits increased by 32,000 to a seasonally-adjusted 493,000, much higher than analysts' expectations of 445,000.

The two hurricanes added about 50,000 new claims in Louisiana and Texas, the department said. The four-week moving average, which smooths out fluctuations, rose to 462,500.