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U.S. initial jobless claims unexpectedly rise

Staff Writer |
The number of Americans filing for unemployment benefits unexpectedly rose last week, according to data from the Labor Department.

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US initial jobless claims were up 15,000 to 258,000 from the previous week's average, which was revised up to 243,000 from 241,000. Analysts had been expecting a drop to 240,000.

Meanwhile, the four-week moving average came in at 240,000, up 1,000 from the previous week's average, which was revised up to 239,000 from 237,250.

The four-week average is considered more reliable as it smooths out sharp fluctuations in the more volatile weekly figures, giving a more accurate picture of the health of the labour market.


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