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Jobless Claims Rose By 10,000 Last Week

May 26, 2011

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There were 424,000 first-time claims for unemployment insurance last week, up 10,000 from the week before, the Employment and Training Administration just reported.

The Associated Press calls the increase "evidence that the job market is still sluggish."

Also this morning, the Bureau of Economic Analysis reported that it still estimates the economy grew at a 1.8 percent annual rate in the first quarter — a number that's unchanged from its previous report on gross domestic product growth in the first three months of the year.

The 1.8 percent rate is down from the 3.1 percent pace of fourth-quarter 2010.

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