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Unemployment claims last week rose to their highest level since August but still remained relatively low as economists worry a recession could be on the horizon in the near future. The Labor Department reported on Wednesday that 240,000 people applied for unemployment benefits last week, an increase of 17,000 from the previous week. The four-week moving average also jumped up from 5,500 to 226,750, but the unemployment rate stands at 3.7 percent, just above a half-century low.

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