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New unemployment numbers surprise



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And this time, in a bad way. Reuters:

Initial claims for state unemployment insurance benefits increased 32,000 to a seasonally adjusted 637,000 in the week ended May 9, reversing an easing trend of the previous two weeks.

A Labor Department official said "a good part of the increase is due to automotive states and claims."

Analysts polled by Reuters had forecast new claims rising to 610,000.


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