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Here come initial jobless claims...

Elena HolodnyAug 25, 2024, 16:23 IST

REUTERS/Mark Blinch The latest reading on initial jobless claims will cross the wires at 8:30 a.m. ET.

Economists forecast that claims, which count the number of people who applied for unemployment insurance for the first time, dipped to 248,000.

Last week, claims rose by 14,000 to 257,000, according to the Labor Department. Economists were expecting 245,000.

Initial jobless claims are used as a real-time proxy for the pace of layoffs since people usually file for benefits soon after they lose their jobs.

Refresh this page for updates at 8:30 a.m. ET.

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