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US Jobless Claims Continue Fall In August

Mohammad Ali (@ChaudhryMAli88) Published August 18, 2016 | 09:51 PM

US jobless claims continue fall in August

WASHINGTON, (APP - UrduPoint / Pakistan Point News - 18th August, 2016) - US weekly unemployment claims fell again in the second week of August, continuing their recent streak, according to the Labor Department. Initial claims for unemployment fell to 262,000 for the week ending August 13, down 4,000 from the week before.

The result was marginally better than the analyst consensus, which had called for 265,000 claims. However, the four-week moving average rose to 265,250, an increase of 2,500 from the previous week's figure of 262,750. The result also marked 76 continuous weeks of claims recorded below 300,000.

A similar stretch has not been seen since 1970, according to the Labor Department.

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