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Weekly jobless claims rise

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Weekly jobless claims rise

Weekly claims figure of 277,000 misses analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended September 26 were 277,000, an increase of 10,000 from the previous week's figure.  

Analysts had expected claims to increase to 270,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 1,000 to 270,750.

The 4-week moving average fell to a 15-year low, and claims overall have stayed below the 300,000 level for 30 weeks, both of which indicate a strong labor market in the US.

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