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Weekly jobless fall

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Weekly jobless fall

Results beat expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended November 20 were 260,000, a decline of 12,000 from the previous week's revised figure.  

Analysts had expected a decline to 270,000 claims.

The 4-week moving average, which smoothes out volatility to a certain extent, was unchanged at 271,000.

The 4-week moving average remains near a 42-year low, and claims overall have stayed below the 300,000 level for 38 consecutive weeks, both of which indicate a strong labor market in the US.  The apparent strength of the labor market will also undoubtedly play a role in the Fed’s decision on the timing of an interest rate hike.

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