Claims for Unemployed Insurance Benefits Soars

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As the labor market continues to struggle, the number of people applying for unemployment insurance jumped by 30,000 to a 26-year peak last week, according to government data released Wednesday.

Initial claims for state unemployment insurance benefits rose to a seasonally adjusted 586,000 in the week ending Dec. 20 from a revised 556,000 the prior week, the U.S. Labor Department said. It was the highest since the week ending Nov. 27, 1982, when initial claims rose 612,000.

Source:  Yahoo News,Jobless Claims Surge to 26-Year High

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