Jobless Claims Rise More than Expected

More people applied for first time unemployment benefits last week.

According to the labor department jobless claims rose by 25,000 to 410,000; much more than economists had expected and just one week after claims plunged to their lowest level in nearly three years.

Analysts say levels below 425,000 are a sign of modest job growth but claims need to stay below 375,000 for the unemployment rate to drop.

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