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Jobless claims increased last week

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Jobless claims increased last week

Weekly figure higher than expected.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended May 17 were 326,000, an increase of 28,000 from the previous week's revised figure of 298,000.

Analysts had expected an increase to 310,000.

The 4-week moving average, which smoothes out volatility to a certain extent, fell 1,000 to 322,250.

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While claims rose more than expected, analysts continue to profess moderate optimism about job creation going forward.

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