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Weekly jobless claims increase

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Weekly jobless claims increase

Weekly claims of 292,000 meets analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended March 14 were 292,000, an increase of 1,000 from the previous week's revised figure.

The rise was in line with analysts’ expectations.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 2,250 to 304,750.

The modest rise in claims was seen by most as an encouraging sign that the labor market continues to gain strength, even in the face of what appears to be a slowing economy.

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