U.S. jobless claims inch up while benefit rolls lowest since ’73
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Thousands of federal and contract employees have already lost their jobs, but the true impact on these workforces has yet to be seen.
The drop represents a positive change following a spike in unemployment over the summer.
The devastation caused by the hurricane, along with layoffs, have largely contributed to the jump.
Data shows hiring plans at their lowest since 2012.
The drop was lower than economists expected, while big companies continue to announce job cuts.