Jobless Claims Hit Half A Million

The number of people applying for unemployment benefits last week hit the half million mark, a major surprise and a major disappointment to those who thought the economy was turning around. "These numbers are important because they indicate the rate of growth in the economy is weakening and that the rate for growth is now insufficient to stop unemployment from rising," said Mark Zandi, chief economist for Moody's Analytics. The latest jobless claims numbers, released by the Labor Department...Full Story
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