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Initial jobless claims sink

Sam RoMar 12, 2015, 18:00 IST

The labor market continues to send encouraging signals.

Initial jobless claims fell to 289,000 from 325,000 a week ago.

This was lower than the 305,000 expected by economists.

This brought the four-week moving average down to 304,750.

Continuing claims declined to 2.418 million from 2.423 million last week.

"The trend in claims continues to hover around that of the pre-recession trough," BNP Paribas economists Derek Lindsay said.

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