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I am the second

Employment gains are reversing course

Data: U.S. Department of Labor; Chart: Andrew Witherspoon/Axios

Nearly 900,000 Americans applied for first-time unemployment benefits last week, the Labor Department announced, the highest number since mid-August and the second weekly increase in a row.

What's happening: "It appears there was a widespread reversal of the downtrend in claims that has been in place for several weeks," Jefferies' money market economist Thomas Simons and chief economist Aneta Markowska wrote in a note to clients.

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