(RTTNews) - Reflecting continued weakness in the labor market, first-time claims for unemployment benefits unexpectedly jumped to their highest level in over twenty-six years in the week ended January 31st, according to a report released by the Labor Department on Thursday.

The report showed that initial jobless claims rose to 626,000 from the previous week’s revised figure of 591,000. Economists had expected jobless claims to edge down to 580,000 from the 588,000 originally reported for the previous week.

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Posted in Categories: Economy, Releases, USA.

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