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Jobless claims increase nationwide, decrease in Iowa

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Unemployment claims increased by 25,000 to 410,000 in the week ended Feb. 12, according to the latest numbers from the U.S. Department of Labor.

Iowa, though, saw 1,061 fewer claims filed.

The total number of people receiving unemployment benefits for the week ending Feb. 5 was unchanged from the prior week. The number of people collecting extended payments decreased.  

“Conditions in the labor market will continue to be tenuous as firms look for a sustained pickup in sales,” said Maxwell Clarke, chief U.S. economist at IDEAglobal in New York, in an interview with Bloomberg. “Claims should remain at an elevated level for some time but should continue along a gradual downward path in the months to come.”

Overall, a higher number of states and territories, 32, reported a decrease in claims than the number, 21, that reported an increase.

A separate report from the Labor Department showed the cost of living climbed for a seventh straight month in January, according to Bloomberg. The increase was led by higher prices for fuel and food.

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