Jobless claims rise, spending drops
Published: December 24, 2008
WASHINGTON (AP) - Americans are seeing fresh evidence of the strains afflicting the economy.
The Labor Department says new claims for unemployment benefits rose by 30,000 last week to a seasonally adjusted 586,000. That was more than expected, marking the highest level since November 1982.
Economists note that the job market has expanded substantially
since then.
In another report, the Commerce Department says consumers cut back spending for a fifth straight month in November. The drop of 0.6 percent partly reflects the sharp decline in gasoline prices.
There was also word that orders for durable goods fell 1 percent in November, led by a large drop in demand for aircraft and weakness in the automotive sector.



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