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Jobless claims decrease

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Jobless claims decrease

Weekly figure lower than expected.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended May 24 were 300,000, a decrease of 27,000 from the previous week's revised figure of 327,000.

Analysts had expected an increase to 318,000.

The 4-week moving average, which smoothes out volatility to a certain extent, fell 11,250 to 311,500.

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The results for the week provide further evidence that job creation is firming up, albeit at a moderate pace. 

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