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Weekly jobless claims beat estimates

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Weekly jobless claims beat estimates

Claims increase by 11,000.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended January 31 were 278,000, an increase of 11,000 from the previous week's revised figure.

Analysts had expected an increase to 290,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 6,500 to 292,750.

The week’s slight increase in claims comes on the heels of a 15-year low posted last week, confirming gaining strength in the labor markets.

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