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US initial jobless claims rise slower than expected

FXStreet (Mumbai) - The US labor department data released on Thursday showed the first time applications for unemployment benefits inched up slower than expected last week.

Four week average at one month low

The initial jobless claims rose by 3,000 to 267,000 in the week ended Sept. 19, compared to the expected rise to 271K from previous week’s 264K. The claims had fallen by 17,000 in the prior two weeks. The four-week average of claims, which provides a more accurate picture of the Labor market strength, down by 750 to a seasonally adjusted 271,750, the lowest level in a month, the Labor Department said.

The continuing claims declined by 1,000 to 2.24 million in the week ended Sept. 12.

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