US Shares Tumble on Job Figures

World | July 11, 2003, Friday // 00:00

The number of people out of work in the US has hit a 20 year high. The queue of people making unemployment benefit claims for two weeks or more leapt 87,000 to 3.82 million in the week to 28 June. This is the highest figure since February 1983, seasonally adjusted Labor Department figures showed. The figures combined with weaker-than-expected results from internet giant Yahoo and retailer Wal-Mart to spark a sell-off on Wall Street.

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