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November 13, 2008

Weekly Initial Jobless Claims Top 500K

In the week ending Nov. 8, 516,000 Americans filed claims for unemployment insurance coverage for the first time, according to the U.S. Department of Labor.

That's an increase of 32,000 from the previous week's revised figure of 484,000 and the biggest weekly total since 2001.

The 4-week moving average was 491,000, an increase of 13,250 from the previous week.

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