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US jobless claims rise by 12,000 last week to 267,000

Washington: New claims for unemployment benefits in the United States increased by 12,000 last week to 267,000.

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This was revealed by the Labor Department on Thursday.

Economists had expected an increase after claims dipped the previous week to 255,000, the lowest figure since 1973.

The rolling four-week average of initial jobless claims, seen as a more reliable measure of labour market trends, fell by 3,750 last week to 274,750.

The four-week average has remained around or below 300,000 since last September, reflecting a recovery in the labour market and growing business confidence.

Continuing jobless claims increased by 46,000 to 2.26 million in the week ending July 18.

The official unemployment rate dropped two-tenths of a point in June to 5.3 percent, the lowest level in seven years, as the economy added 223,000 new jobs.

(IANS/EFE)

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