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Unemployment rises, factory orders fall By Tim Parry Jun 5, 2003 12:00 PM Orders to U.S. factories fell 2.9% to $319.99 billion in April, the Commerce Department reported today, the largest drop in more than a year. In a separate report by the Dept. of Labor, new applications for unemployment insurance rose by a seasonally adjusted rate of 16,000 to 442,000 for the work week ending May 31. The fall in factory orders followed a revised 2.1% rise in March, and was weaker than analysts' predictions of a 1.8% fall. The April factory orders report showed that non-durable goods orders fell 3.5%, after a 2.9% rise in March.
The number of new claims for jobless benefits climbed to a five-week high.
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