Unemployment claims rise to 240,000, highest since August

Unemployment claims rise to 240,000, highest since August

The Labor Department reported Wednesday that 240,000 people applied for jobless aid last week, up by 17,000 from the week before. To combat inflation that hit four-decade highs earlier this year, the Federal Reserve has raised its benchmark interest rate six times since March. And many economists expect the United States to slip into a recession next year as…