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Labor Department says number of claims surges to 407,000 - the highest level since September 2005.

This is a shocking as well as some what alarming as this indicates that the economic slump is anyting but over. Two back to back quarter of negative economic growth is considered a recessionary economy. Last quarter of 2007 was positive, first quarter of 2008 is expected to be negative (results will be out next week).

Read more about this story on CNN:
http://money.cnn.com/2008/04/03/news...ion=2008040310

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