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Weekly jobless claims rise

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Weekly jobless claims rise

Results miss expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended January 16 were 293,000, an increase of 10,000 from the previous week's revised figure.  

Analysts had expected claims to come in at 278,000.

The 4-week moving average, which smoothes out volatility to a certain extent, rose 6,500 to 285,000.

Claims overall have stayed below the 300,000 level for 46 consecutive weeks, both of which indicate a strong labor market in the US.  However, amid what appears to be a significant slowdown in economic growth in the US, the rising claims figures may indicate a softening in jobs growth. 

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