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Jobless claims jump to 16-year high.

Wonk Room found this 11/20/2008 on thinkprogress.org

New claims for unemployment jumped unexpectedly to a 16-year high last week , the Labor Department reported, with 542,000 new claims for jobless benefits being filed. “Claims above 400,000 are generally considered a sign of recession , and claims have been above that level for 17 ...