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Initial jobless claims unexpectedly jump to nine-month high
Initial jobless claims unexpectedly jump to nine-month high

Initial jobless claims unexpectedly jumped to a nine-month high last week, an indication that severe winter weather could be putting a temporary freeze on the labor market's recovery. About 320,000 people filed for first-time unemployment benefits last week, up 7,000 from the previous week, the Labor Department said Thursday. Economists had been expecting claims to fall to 300,000. Claims below that level indicate a strong labor market. In another read on the jobs market, planned layoffs by U.S. businesses were down 5%, to 50,579, in February from the previous month, career counseling firm Challenger Gray & Christmas Inc. said Thursday. But announced layoffs are running higher...

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