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Bush Signs Extension of Unemployment Benefits

U.S. President George Bush has signed a measure extending unemployment benefits for a growing number of out-of-work Americans.

Mr. Bush signed the legislation into law Friday and it allows unemployed Americans to receive government payment for an extra seven weeks. Those in states with higher unemployment rates can receive benefits even longer.

The U.S. Senate passed the bill Thursday, after a new report showed the number of unemployed Americans signing up for benefits for the first time grew to the highest level in 16 years.

The White House said the financial and credit crises has slowed the U.S. economy "dramatically", and has had an impact on job creation.

Some information for this report was provided by AP and Reuters.