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Jobless claims increase unexpectedly

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Jobless claims increase unexpectedly

Increase of 12,000 less than expected.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended September 20 were 293,000, an increase of 12,000 from the previous week's revised figure.

Analysts had expected claims to come in at 300,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 1,250 to 293,500.

The week’s data suggests that jobs creation continues to accelerate, albeit at a modest pace.

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