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Weekly jobless claims increase

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Weekly jobless claims increase

Weekly claims of 281,000 beats analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended April 4 were 268,000, a decrease of 14,000 from the previous week's revised figure. This is the lowest weekly reading in 6 weeks.

Analysts had expected an increase to 285,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 3,000 to 282,250.

The increase, while lower than expected, is the latest data point suggesting a slowdown in the US recovery and labor markets, particularly following March’s downbeat jobs report.

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