First-time unemployment claims in U.S. jump to 558,000

08/14/2009 | Forbes

Most analysts expected initial jobless claims to fall by 9,000 last week, but instead they rose by 4,000, the U.S. Labor Department said. During the same period, retail sales declined 0.1%, the Commerce Department reported. Economists had anticipated 0.7% growth. "There is really no positive spin to put on these numbers," Jennifer Lee, an economist with BMO Capital Markets, wrote in a note.

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