News Flash: Nation Sees More Jobless Claims Than Expected


The number of Americans filing new claims for jobless benefits went up by a larger than expected rate last week, according to The New York Times.

Claims for state unemployment insurance benefits increased to 478,000 in the week that ended Oct. 18, from 463,000 the previous week, the Labor Department said. Apparently it was the 26th consecutive week that claims were above three million, which the NYT touts as a "sign that the slowing economy was making it harder for workers to find jobs."

“The story is that the underlying trend is moving up pretty strongly and job losses are clearly getting worse,” said Nigel Gault, chief United States economist at Global Insight in Lexington, Mass.

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