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U.S. weekly jobless claims show modest increase

Christian Fernsby |
A report released by the Labor Department on Thursday showed a modest uptick in first-time claims for U.S. unemployment benefits in the week ended May 25th.

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The report said initial jobless claims edged up to 215,000, an increase of 3,000 from the previous week's revised level of 212,000.

Economists had expected jobless claims to inch up to 215,000 from the 211,000 originally reported for the previous week.

Meanwhile, the Labor Department said the less volatile four-week moving average dipped to 216,750, a decrease of 3,750 from the previous week's revised average of 220,500.

The report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also fell by 26,000 to 1.657 million in the week ended May 18th.

The four-week moving average of continuing claims also edged down to 1,672,500, a decrease of 3,500 from the previous week's revised average of 1,676,000.

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