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Jobless benefits rise more than expected

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Posted: Oct 1, 2009 8:48 AM by John Pastorek
Updated: Oct 1, 2009 8:51 AM
Source: Associated Press

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Topics: Jobless benefits, unemployment benefits, Labor Department, Wall Street, job market

After three weeks of declines, first time claims for jobless benefits rose more than expected last week, a sign that employers are reluctant to hire and the job market remains weak.

The Labor Department says initial claims for unemployment insurance rose to a seasonally adjusted 551,000 from 534,000 in the previous week.

Wall Street economists expected an increase of 5,000.

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