applications for unemployment benefits fell

October 25, 2007 at 11:24 pm | Posted in economy | Leave a comment
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WASHINGTON (Reuters) – The number of workers filing new claims for jobless aid fell by a much fewer than expected 8,000 last week, the Labor Department said on Thursday, which left claims at fairly high levels.

The Labor Department reported Thursday applications for unemployment benefits totaled 331,000, a decline of 8,000 from the previous week.

That improvement was smaller than the decline of 17,000 claims that economists had been expecting and was certain to raise concerns about whether the severe slump in housing and a serious credit crunch were beginning to adversely affect the overall economy.The four-week average for claims rose by 7,750 to 324,750, its highest level since Sept. 1. The average is rising, watch out.

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