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Jobless claims increase unexpectedly

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Jobless claims increase unexpectedly

Analysts had expected a drop.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended June 7 were 317,000, an increase of 4,000 from the previous week's revised figure of 312,000.

Analysts had expected a decrease to 310,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 4,750 to 315,250.

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The results aren’t expected to alter perceptions that job creation is firming up, albeit at a moderate pace. 

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