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Weekly jobless claims rise

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Weekly jobless claims rise

Results beat expectations; labor market.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended March 12 were 265,000, an increase of 7,000 from the previous week's revised figure.  

Analysts had expected claims to come in at 268,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 750 to 268,000.

Claims overall have stayed below the 300,000 level for 54 consecutive weeks, which indicates a strong labor market in the US, despite what appears to be a significant slowdown in economic growth in the US and globally.

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