Jobless claims increase by 32,000, nearing 7-year high.

According to new data released this morning by the Department of Labor, unemployment claims “increased by a seasonally adjusted 32,000 to 493,000 in the third week of September,” marking the highest number of weekly claims since shortly after 9/11. The figures also “helped boost the four-week moving average of new jobless claims by 16,000 from last week to 462,500.” Levels “at or above 400,000 for the four-week average [have] also been present throughout the last two recessions.”