Initial jobless claims fall

Initial jobless claims fell to 271,000 last week, by less than expected.

Economists had estimated that first-time unemployment insurance claims totaled 270,000, versus 276,000 in the prior period.

The four-week moving average of claims rose 3,000 to 270,750.

The Department of Labor reported no special factors in this weeks report.

"Data on jobless claims continue to signal limited layoffs and steady labor market conditions," wrote Nomura economists in a note to clients last week.

More to come ...

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