Jobless claims hit three-month highNews added by ProWEB Media on August 5, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

New claims for unemployment benefits rose last week to the highest level since early April, according to figures released by the Labor Department.

Initial claims for state unemployment benefits rose 19,000 to a seasonally adjusted 479,000, exceeding market expectations for a drop to 455,000.

The statistics have little effect on the government's monthly employment report, which is due on Friday, because they fall outside of the survey period, but they provide further evidence of continuing struggles within the labor market, which continues to hinder overall economic recovery.
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