Jobless claims top 6M; housing starts plummet
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The number of people receiving jobless benefits exceeded 6 million for the first time, the government reported Thursday, and housing construction unexpectedly plunged to its second-lowest level on record — fresh evidence that the recession is far from over.
Analysts expect the labor market to remain weak for the most of this year with companies reluctant to hire new workers until an economic recovery is well under way.
