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U.S. Weekly Jobless Claims Rise to 215K

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(Kitco News) - Initial weekly U.S. job claims rose by 8,000 to a seasonally adjusted 215,000 in the week to Saturday, the Labor Department reported Thursday.

The data was relatively in line with expectations. Consensus expectations compiled by various news organizations had called for initial claims to be around 212,000. The government revised the previous week’s numbers of 206,000 claims up by 1,000, marking a three-month low in reported unemployment levels.

Meanwhile, the four-week moving average for new claims – often viewed as a more reliable measure of the labor market as it smoothens out week-to-week volatility – fell by 1,750 claims to 211,500.

Continuing jobless claims, the number of people already receiving benefits and reported with a one-week delay, increased by 22,000 claims to a seasonally adjusted 1,699,000 during the week ending July 20, the government said.

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