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U.S. initial jobless claims fall by 10,000 to 332,000 last week

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Investing.com - The number of people who filed for unemployment assistance in the U.S. fell unexpectedly last week, remaining close to a five-year low, official data showed on Thursday.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending March 10 fell by 10,000 to a seasonally adjusted 332,000, compared to expectations for an increase of 8,000 to 350,000.

Jobless claims for the preceding week were revised up to 342,000 from a previously reported gain of 340,000.

Continuing jobless claims in the week ended March 3 fell to 3.024 million. Analysts had expected continuing claims to decline to 3.100 million from last week's revised figure of 3.113 million.

The four-week moving average was 346,750, a decrease of 2,750 from the previous week's revised average of 349,500.

The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.

Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.37% to trade at 1.2913.

Meanwhile, U.S. stock index futures held on to modest gains. The Dow Jones Industrial Average futures pointed to an increase of 0.2% at the open, S&P 500 futures indicated a gain of 0.3%, while the Nasdaq 100 futures signaled a 0.4% advance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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