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US Initial Jobless Claims Fall to Lowest Level Since February
Applications for US unemployment benefits fell to the lowest level since February, adding to evidence of a resilient labor market. Initial jobless claims decreased by 13,000 to 216,000 in the week ended Sept. 2, Labor Department data showed Thursday. The figure was lower than all forecasts in a Bloomberg survey of economists. Continuing claims, which are a proxy for the number of people receiving unemployment benefits, dropped to 1.68 million in the week ended Aug. 26. That’s the lowest level since July. The labor market — while gradually softening — has proved a vital support to the economy. Solid hiring and ... (full story)