Rise in U.S. unemployment claims surprises economists

06/26/2009 | NYTimes.com

Last week, initial claims for unemployment benefits in the U.S. increased to a seasonally adjusted 627,000, the Labor Department reported. Economists had expected a drop to 600,000. "We still firmly believe that the underlying trends in claims is downwards, but it is slow and uneven," Ian Shepherdson, chief U.S. economist for High Frequency Economics, wrote in a client note.

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