Jobless Claims Cancel Gains, Soar to 388,000
(WASHINGTON) — After plummeting to their lowest level in over four years, jobless claims soared last week, nearing the dreaded 400,000 mark, according to the latest figures from the Labor Department.
The agency reported on Thursday that for the week ending Oct. 13, the number of people filing for benefits rose by 46,000 to 388,000. The previous week, claims stood at 342,000.
The four-week average also went up, climbing by 750 to 365,500.
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