Biggest jobless claims rise in four months

[maseman]

Source: MSNBC/AP

WASHINGTON - The number of newly laid off workers filing claims for unemployment benefits shot up last week by the biggest amount in four months.

The Labor Department reported a total of 317,000 applications for unemployment benefits last week, an increase of 16,000 from the previous week. It was the biggest gain since jobless claims rose by 18,000 during the week of May 9.

The rise was bigger than analysts had been expecting and could be a further sign that the labor market is slowing under the impact of the worst slump in housing in 16 years and a severe credit crunch that roiled global markets in August.



Read more: http://www.msnbc.msn.com/id/21128620/

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Hey that economy is doing great there Shrubby. Keep banging the Iran war drums and don't pay any attention to what is going on in the US.