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Weekly jobless claims fall

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Weekly jobless claims fall

Weekly claims figure of 264,000 beats analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended May 9 were 264,000, a decrease of 1,000 from the previous week's figure.  

Analysts had expected an increase to 275,000.

The 4-week moving average, which smoothes out volatility to a certain extent, fell 7,750 to 271,750.

Weekly claims have stayed below the 300,000 level for 10 straight weeks, which suggests to most economists that the labor market continues to strengthen.

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