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Weekly jobless increase

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Weekly jobless increase

Weekly claims of 320,000 misses analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended February 28 were 320,000, an increase of 7,000 from the previous week's revised figure.

Analysts had expected a decrease to 295,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 10,250 to 304,750.

The week’s increase – and particularly the increase in the 4-week moving average – sparks concerns that the expansion in jobs creation may be slowing.  Jobs creation for February will be released by the Department of Labor on Friday.

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