Jobless Claims Rise to 371,000

bloomberg.com — The number of Americans filing applications for the first time increased to 371,000, in line with estimates, from 365,000 the prior week, the Labor Department said. Companies are stepping up the pace of firings as the worst housing slump in more than a generation undermines home values, consumer spending and overall growth. Economists forecast consumer spending would increase this quarter at the slowest pace in 17 years.

Read Full Article »