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Jobless claims rise

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Jobless claims rise

Increase of 23,000 roughly in line with analyst expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended July 26 were 302,000, an increase of 23,000 from the previous week's figure.

Analysts had expected claims to rise to 301,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 3,500 to 297,500.

The 4-week moving average is the lowest since 2006, providing further evidence of a strengthening jobs market.

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