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Unemployment Claims rose to 244,000

Thursday, Feb 23 2017
Unemployment Claims rose to 244,000

The number of Americans filing for unemployment benefits increased last week, while staying within a range that shows subdued firings. Jobless claims rose by 6,000 to 244,000 in the week ended Feb. 18, a report from the Labor Department showed Thursday. The four-week average declined to the lowest level since July 1973.

A tight labor market and growing economy are prompting companies to hold on to employees, setting the stage for larger wage gains. Last week included the 12th of the month, which coincides with the period the Labor Department surveys employers to calculate monthly payroll data. The four-week moving average decreased by 4,000 to 241,000, the lowest since July 21, 1973. The average is lower than the 247,500 during the comparable period in January.

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