United States jobless claims hit 25 year high

UNITED STATES - The American recession is hurting U.S. workers, and the number drawing jobless benefits hit a 25-year high this month.

The number of workers filing new claims for jobless benefits rose by an unexpected 32,000 last week to a total of 516,000, the highest since the weeks following the September 11th 2001 attacks on the United States, the Labor Department said. The number of workers still on the benefit rolls after drawing an initial week of aid hit 3.9 million in the week to Nov. 1, the highest since January 1983.

The U.S. economy has been suffering from a housing market crash, a credit crisis and an automotive recession.

U.S. imports from China hit a record $33.1 billion in September, but imports from the European Union fell 3.8 percent and imports from the Organization of Petroleum Exporting Countries slumped 27.1 percent as the cost of imported oil fell by a record $12.41 per barrel in September. Iran is currently threatening to cut oil exports.

U.S. exports also fell by a record $10.4 billion, with all major categories showing a decline. A sharp drop in exports of capital goods was led by civilian aircraft, after posting big numbers in the two prior months.