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US Initial Jobless Claims Edged Down to 229,000 Last Week
Applications for US unemployment benefits edged down last week, suggesting employers are holding onto current workers amid economic uncertainty. Initial claims decreased by 5,000 to 229,000 in the week ended Aug. 23. The median forecast in a Bloomberg survey of economists called for 230,000 applications. Continuing claims, a proxy for the number of people receiving benefits, also fell, to 1.95 million in the previous week, according to Labor Department data released Thursday. That is the week when the surveys for the government’s monthly jobs report were conducted. Businesses so far have been reluctant to cut staff ... (full story)
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