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Initial Jobless Claims Surge to Highest Level Since April 2011

Initial jobless claims surged to their highest level since April 2011 today rising from 361K up to 439K.  While some of the increase is attributable to Hurricane Sandy, there really is no way to sugar coat this weakness.  If you were having second thoughts regarding the economy, today's report doesn't help, and it will likely take weeks before we can get a true read on jobless claims. Continue reading.