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Weekly jobless claims unexpectedly increase - again

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Weekly jobless claims unexpectedly increase - again

Claims increase by 31,000.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for last week were 313,000, an increase of 31,000 from the prior week's revised figure.

Analysts had expected a reading of 290,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 11,500 to 294,500.

The unexpected jump in claims above the significant 300,000 mark, along with other recent data, may suggest that the US economic expansion may not be as robust as previously thought.

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