STAGFLATION, THE REPUBLICAN DISEASE: Jobless Claims Hit Six-Year High

By BRIAN BLACKSTONE
August 7, 2008 10:32 a.m.

WASHINGTON — The number of U.S. workers filing new claims for unemployment benefits unexpectedly rose last week to a six-year high, as the recent extension of unemployment benefits continued to draw new claimants into the system.

Still, those technical issues aside the numbers, which included another rise in continuing claims, suggest the outlook for labor markets and consumer spending remains bleak as households face high energy prices and falling home values.

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