|Published:||Sep 15, 2011 2:28 PM EDT|
|Updated:||Sep 15, 2011 2:51 PM EDT|
WASHINGTON (AP) - The number of people applying for unemployment benefits last week jumped to the highest level in three months, a sign that layoffs could be increasing. The Labor Department says weekly applications rose by 11,000 to a seasonally adjusted 428,000. The government also reports today that consumers paid more for a range of goods and services last month, pushing up inflation and squeezing Americans' purchasing power. The Labor Department says the Consumer Price Index rose 0.4 percent in August, after jumping 0.5 percent in July.