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Weekly jobless claims increase unexpectedly

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Weekly jobless claims increase unexpectedly

Weekly claims figure of 277,000 misses analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended August 15 were 277,000, an increase of 4,000 from the previous week's revised figure.  

Analysts had expected claims to dip to 272,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 5,500 to 271,500.

Claims have now remained under the 300,000 threshold for 24 consecutive weeks, indicating a continued strengthening of the job market.

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