Jobless claims go up by 9,000

Initial jobless claims went up by 9,000 and the total stood at 408,000. Employees added 117,000 jobs in July. Fears of a second recession, loss of the nation’s AAA credit rating and the debt crisis in Europe has wrecked the global stock markets. The rise in jobless claims does not provide an optimistic view of the economy.The number of people still receiving the benefits has increased.

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Jobless claims rise 9,000 last week