Jobless Claims Jump; Shutdown Partially To Blame Thursday, October 10, 11:35 AM ET
This morning, the Labor Department reported that initial jobless claims jumped by 66,000 to a seasonally-adjusted 374,000 claims. The big jump was partially the result of the California system being backed up for the last few weeks as the computer systems were upgraded, but a large percentage was also related to the government shutdown. The Labor Department noted that as much as one quarter of the increase were government contractors that cannot work until the budget impasse is resolved.
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