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Weekly jobless claims decrease

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Weekly jobless claims decrease

Weekly claims of 282,000 beats analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended March 21 were 282,000, a decrease of 9,000 from the previous week's revised figure. This is the lowest weekly reading in 5 weeks.

Analysts had expected a decrease to 290,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 7,750 to 297,000.

The modest decrease 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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