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Filings for unemployment aid rise, at a 5-week high
http://www.suntimes.com/business/12886460-420/filings-for-unemployment-aid-at-a-5-week-high.htmlASSOCIATED PRESS May 31, 2012 9:30AM
WASHINGTON — The number of Americans seeking unemployment benefits rose last week to a five-week high, evidence that the job market remains sluggish.
The Labor Department said Thursday that weekly applications for unemployment aid rose 10,000 to a seasonally adjusted 383,000. The four-week average, a less volatile measure, increased for the first time in a month to 374,500.
Economists were disappointed by the data, particularly when coupled with a separate report Thursday that showed only modest hiring by private businesses in May. On Friday, the government will report on May hiring by private and public employers.
“The jobs data were not reassuring ahead of tomorrow’s ... report,” said Jennifer Lee, an economist at BMO Capital Markets...
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