The US Federal Reserve said yesterday’s rate cut should do the trick when it comes to fighting rising joblessness. But new data Thursday shows the battle may take longer than thought. Applications for unemployment benefits rose last week as out-of-work Americans put Thanksgiving behind them. It was the biggest rise since the onset of the pandemic as initial claims increased by 44,000 to 236,000 in the week ended Dec. 6. The figure exceeded all but one estimate in a Bloomberg survey of economists.
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