New claims for jobless benefits jumped by 13,000 to 462,000 for the week ending October 9th. Estimates for the number of new claims ranged from 425,000 to 455,000.
Ã¢â‚¬Å“The real problem is a lack of job growth,Ã¢â‚¬Â Scott Brown, chief economist at Raymond James & Associates, said before the report. Ã¢â‚¬Å“The good news is weÃ¢â‚¬â„¢re not seeing the level of layoffs that would be consistent with a double-dip recession. The bad news is we really could be a lot stronger at this point and thatÃ¢â‚¬â„¢s going to take some time.Ã¢â‚¬Â
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