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Weekly jobless claims decrease

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Weekly jobless claims decrease

More good news for jobs outlook.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended August 20 were 261,000, a decrease of 1,000 from the previous week's figure.  

Analysts had expected claims to come in at 265,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 1,250 to 264,000.

Claims overall have stayed below the 300,000 level for 77 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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