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Jobless claims increase

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Jobless claims increase

Increase higher than expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended November 8 were 290,000, an increase of 12,000 from the previous week's figure.

Analysts had expected an increase to 280,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 6,000 to 285,000.

Even though claims increased more than anticipated, the fact that they have been consistently under 300,000 for over two months suggests that jobs growth, while unspectacular, remains steady in the US.

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