New filings for US unemployment benefits rose more than expected last week, according to a Labor Department , which is above forecasts.
According to the report, 378,000 people filed for unemployment for the first time in the week ended March 15, 22,000 higher than a revised 356,000 reported in the previous week.
New jobless claims can be used as a recession indicator, said Ethan Harris, chief U.S. economist for Lehman Brothers.
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