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8/13, 2:30 PM (Source: TeleTrader)
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US initial jobless claims down by 228K to 963K

The number of initial jobless claims in the United States for the week ending August 8 fell by 228,000 compared to the previous week's revised figure to land at 963,000, the Labor Department reported on Thursday.

Aside from the better-than-expected number of jobless claims, the report noted advance seasonally adjusted insured unemployment rate stood at 10.6% for the week ending August 1, 0.4% lower compared to the previous week's revised rate. Insured unemployment during the same week was reported at 15,486,000, a decrease of 604,000 from the previous week's revised level

The four-week moving average decreased by fell by 454,500 to 16,169,500.

Breaking the News / JC