WillowTree
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- Sep 15, 2008
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New U.S. claims for unemployment benefits rose last week for the fourth straight week, which could heighten concerns the labor market recovery is softening.
At the same time, a second reading on U.S. gross domestic product showed the economy expanded at an annualized rate of 1.9% in the first quarter, in line with economists' estimates, but slower than an initial estimate of 2.2%.
Initial claims for state unemployment benefits rose 10,000 to a seasonally adjusted 383,000, the Labor Department said on Thursday.
The prior week's figure was revised up to 373,000 from the previously reported 370,000. Economists polled by Reuters had forecast claims unchanged last week.
Read more: Weekly Jobless Claims Rise for Fourth Straight Week | Fox Business
Not good news for democrats
At the same time, a second reading on U.S. gross domestic product showed the economy expanded at an annualized rate of 1.9% in the first quarter, in line with economists' estimates, but slower than an initial estimate of 2.2%.
Initial claims for state unemployment benefits rose 10,000 to a seasonally adjusted 383,000, the Labor Department said on Thursday.
The prior week's figure was revised up to 373,000 from the previously reported 370,000. Economists polled by Reuters had forecast claims unchanged last week.
Read more: Weekly Jobless Claims Rise for Fourth Straight Week | Fox Business
Not good news for democrats