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Weekly jobless claims fall

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Weekly jobless claims fall

Weekly claims of 289,000 beat analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended March 7 were 289,000, a decrease of 36,000 from the previous week's revised figure.

Analysts had expected a decrease to 305,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 3,750 to 302,250.

While the unexpectedly large fall in claims was welcomed as a sign of continuing strength in the labor markets, the fact that the 4-week moving average remains above 300,000 suggests potential slowing in jobs growth going forward.

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