Initial Jobless Claims Fall by 34,000 For Week

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he number of U.S. workers filing for initial unemployment benefits fell 34,000 to 303,000 for the week ended July 16, the Labor Department reported Thursday.

The drop exceeded analysts’ forecasts of a drop to 325,000, Bloomberg reported.

The four-week moving average, a less volatile measure, fell to 318,000 from 321,250.

The number of people filing continuing jobless claims decreased to 2.577 million the week ended July 9, from 2.618 million the previous week, Labor said.