US Jobless Claims Fall to 197,000, Below Expectations
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The US Department of Labor reported that initial claims for unemployment benefits fell by 1,000 last week to 197,000, below analysts' expectations of 201,000. The four-week moving average, a better gauge of the labor market because it smooths out weekly volatility, fell to 202,250. Meanwhile, the number of Americans continuing to receive unemployment benefits rose by 2,000 to 1.72 million.