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JOBLESS CLAIMS PLUNGE TO A 14-YEAR LOW

Sam RoOct 16, 2014, 18:00 IST

Initial weekly unemployment claims plunged to 264,000 from 287,000 a week ago.

This was the lowest reading since April 2000.

This was much lower than the 290,000 expected by economists.

"It is rare for new jobless claims to maintain a pace below 300k for long-a signal of a still-strengthening labor market," UBS's Sam Coffin said.

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