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Weekly jobless claims increase unexpectedly

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Weekly jobless claims increase unexpectedly

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

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended August 8 were 274,000, an increase of 5,000 from the previous week's revised figure.  

Analysts had expected claims to remain flat at 270,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 1,750 to 266,250.

Claims have now remained under the 300,000 threshold for 23 consecutive weeks, indicating a continued strengthening of the job market.

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