Unemployment claims on rise, service industry index slides
Summary from United States, from articles in English
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WASHINGTON - Service industries in the United States contracted for a third month in March and claims for unemployment benefits unexpectedly jumped last week, reinforcing speculation the economy is shrinking. (article 4)
The Labor Department reported Thursday that new applications filed for unemployment insurance jumped by a seasonally adjusted 38,000 to 407,000 for the week ending March 29. (article 2)
The increase left claims at their highest point since Sept. 17, 2005, following the blows of the devastating Gulf Coast hurricanes. (article 2)
" This report supports the view that the jobs market is deteriorating toward recessionary conditions said T.J. Marta, a fixed-income strategist at RBC Capital Markets. (article 2)
That motivation was in full force Thursday after investors learned that the number of people applying for unemployment benefits rose by a full 38,000 last week to 407,000, the highest level since the aftermath of Hurricane Katrina in September 2005. (article 1)
An increase in export orders helped US services companies perform slightly better than expected last month suggesting the sector is withstanding economic headwinds more resolutely than other parts of the economy. (article 3)
The Institute for Supply Management's March non-manufacturing index remained in overall contraction for a third consecutive month, but the composite gauge rose from 49.3 to 49.6, exceeding the consensus forecast of a decrease to 48.7. (article 3)
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Source articles
- Long-Term Treasurys Rise on Weak Data (Washington Post, 04/03/2008, 516 words)
- Jobless Claims Highest Since Sept. 2005 (Washington Post, 04/03/2008, 503 words)
- US services sector stronger than expected (ft.com, 04/03/2008, 402 words)
- Unemployment claims on rise, service industry index slides (boston.com, 04/04/2008, 640 words)
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