INITIAL JOBLESS CLAIMS SINK TO 346,000
Apr 11, 2013, 18:00 IST
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Claims fell to 346k from from last week's reading of 388k (revised from 385k).
Economists were expecting a reading of 360k.
This was quite a relief as it comes in the wake of last weeks disappointing nonfarm payrolls and jobless claims reports.
It appears that the jump in last week's jobless claims was indeed due to some seasonal factors, and at least some of that increase is being recouped now.
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The four-week moving average is sitting at 358k, up slightly from 355k last week.