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Weekly jobless claims fall

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Weekly jobless claims fall

Weekly claims figure of 276,000 slightly beats analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended May 30 were 276,000, a decrease of 8,000 from the previous week's revised figure.  

Analysts had expected a decrease to 279,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 2,750 to 274,750.

Weekly claims have stayed below the 300,000 level for 13 straight weeks, which suggests to most economists that the labor market continues to strengthen.

 

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