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Weekly jobless claims increase again

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Weekly jobless claims increase again

Weekly claims figure of 274,000 slightly misses analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended May 16 were 274,000, an increase of 10,000 from the previous week's figure.  

Analysts had expected an increase to 271,000.

The 4-week moving average, which smoothes out volatility to a certain extent, fell 5,500 to 266,250.

Weekly claims have stayed below the 300,000 level for 11 straight weeks, which suggests to most economists that the labor market continues to strengthen.

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