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Post by bot on Nov 21, 2013 8:40:26 GMT -5
U.S. jobless claims drop 21,000 to 323,000
WASHINGTON (MarketWatch) - The number of new U.S. applications for unemployment benefits fell by 21,000 to 323,000 in the week ended Nov. 16, putting new claims at the lowest level since late September, the Labor Department said Thursday. Economists surveyed by MarketWatch expected claims to fall to 334,000 on a seasonally adjusted basis. Veteran's day took place during the week and sometimes holidays can cause claims to decline by more than they usually do. The average of new claims over the past month, a more reliable gauge than the volatile weekly number, dropped by 6,750 to 338,500. Also, the government said continuing claims increased by 66,000 to a seasonally adjusted 2.88 million in the week ended Nov. 9. Continuing claims, reported with a two-week lag, reflect the number of people already receiving benefits. Initial claims from two weeks ago, meanwhile, were revised up to 344,000 from an original reading of 339,000, based on more complete data collected at the state level.
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