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Weekly jobless claims increase

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Weekly jobless claims increase

However, job market sustains apparent strength.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended July 23 were 266,000, an increase of 14,000 from the previous week's revised figure.  

Analysts had expected claims to come in at 260,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 1,000 to 256,500.

Claims overall have stayed below the 300,000 level for 73 consecutive weeks, which indicates a strong labor market in the US, despite what appears to be a slowdown in economic growth in the US and globally.


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