New US Jobless Claims Hold Steady at 505,000

The US Labor Department announced this morning that new jobless claims for last week remained steady at 505,000, but analysts warn the economy is still losing jobs. In order to hit the “break even” point, weekly job losses would have to fall to 425,000. Still, this result should be seen as relatively positive as the number is down 22 percent from earlier in the year.

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