New Claims For Unemployment Benefits on the Rise

The US Labor Department announced today that new claims for unemployment benefits rose 37,000 to a seasonally-adjusted 464,000 for the week ended July 17th. This was more than the expected 445,000.

The higher-than-expected rate, and comments from Federal Reserve Chairman Ben Bernanke who yesterday referred to the economic climate as “unusually uncertain”, suggest that job creation could continue to slow the overall recovery.

Source: Reuters

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