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Weekly jobless claims increase slightly

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Weekly jobless claims increase slightly

Weekly claims figure of 279,000 roughly in line with analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended June 6 were 279,000, a decrease of 2,000 from the previous week's revised figure.  

Analysts had expected an increase to 277,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 3,750 to 278,750.

Weekly claims have stayed below the 300,000 level for 14 straight weeks, which suggests to most economists that the labor market continues to strengthen.

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