Stock Market

The number of US workers filing new claims for jobless benefits surged to a 26-1/2-year high last week, data showed on Thursday, indicating that layoffs have yet to peak even as other data signalled some improvement in the economy. The Labour Department report also showed the ranks of unemployed who have claimed more than one week of aid hit a record peak last month, showing the difficulties of finding a new job in a recession that has entered its 16th month.