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Jobless claims increase unexpectedly

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Jobless claims increase unexpectedly

Increase of 17,000 in line with expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended October 18 were 283,000, an increase of 17,000 from the previous week's revised figure.

The results were in line with analysts’ expectations.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 18,260 to 281,000, which is the lowest level since 2000.

While claims increased during the week, the ongoing data suggests that jobs creation continues to strengthen.

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