New jobless claims rise ‘more than expected’, Retail sales sink
Retail sales unexpectedly fell in December, leaving 2009 with the biggest yearly drop on record and highlighting the formidable hurdles facing the economy as it struggles to recover from the deepest recession in seven decades.In another disappointing economic report, the number of newly laid-off workers requesting unemployment benefits rose more than expected last week as jobs remain scarce.
Economists said the drop in retail sales in December underscored how tentative the economic remains given all the headwinds facing consumers.
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