“The number of Americans filing first-time claims for unemployment benefits rose last week to the highest level in almost four months, a sign the slowing economy is weakening the labor market. Initial jobless claims increased by 34,000 to 406,000 in the week ended July 19, from a revised 372,000 the prior week, the Labor Department said Thursday in Washington. The filings exceeded economists’ forecast and were the most since 406,000 in the week ended March 29. U.S. employers are reducing workers as surging fuel costs, a three-year housing slump and a crisis in credit markets restrains demand.” (07/24/08)