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The number of Americans filing for first-time unemployment benefits climbed last week, indicating continued trouble for the labor market.
The Labor Department reported Thursday that 386,000 people filed new jobless claims in the week ended June 9, up 6,000 from the previous week's revised figure.
That was 11,000 more than expected. Economists surveyed by Briefing.com had forecast 375,000 people would file new claims.
Initial claims are a volatile number. But because they're closely correlated with layoffs, economists consider them to be a key gauge of the job market.
Nearly 3.3 million people filed for their second week of unemployment benefits or more in the week ended June 2, the most recent data available. That number was down 33,000 from the previous week.
Mark Vitner, a senior economist at Wells Fargo, said the worse-than-expected jobs numbers released Thursday are a sign that economic growth may slow in the second half of the year.
Originally posted by xuenchen
reply to post by Mamatus
Are you absolutely positivily 100% sure ?
The Democrats took majority control of all Congressional Committees in January 2007.
They retained that control in January 2009.
Then the White House in January 2009.
It sure looks like donkey economics to me