Initial jobless claims fell more than expected.
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Initial jobless claims fall more than expected
The latest read on the health of the US labor market.
Mervin Sealy from Hickory, North Carolina, takes part in a protest rally outside the Capitol Building in Washington, October 5, 2011. Demonstrators were demanding that Congress create jobs, not make budget cuts during the protest.
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Claims,
Economists forecast that claims fell to 241,000, from the prior week's unrevised reading of 245,000.
Initial jobless claims are used as a real-time proxy for the pace of layoffs since people usually file for benefits soon after they lose their jobs.
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The four-week moving average was 243,000, an uptick of 1,000 from the prior week's unrevised 242,000.
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