The US Labor Department reported Thursday that there were 640,000 new claims for unemployment compensation last week, up 27,000 from the previous week. The US economy has been hemorrhaging jobs at a rate of well over 600,000 per month since January.
The report noted that the number of people re-applying for unemployment benefits reached 6.13 million, setting a new record for the 12th consecutive week.
The Economy
It continues to slide, with jobless claims up, and home sales down:
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