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Weekly unemployment claims plunge to 280,000, near a 14-year low
Weekly unemployment claims plunge to 280,000, near a 14-year low

Initial jobless benefits claims plunged to near a 14-year low last week while the number of people receiving unemployment checks fell to the lowest since before the Great Recession, the Labor Department said Thursday. About 280,000 people filed for first-time unemployment benefits in the week ended Saturday, down 36,000 from the previous week and well below analyst estimates. The drop came a week after claims unexpectedly jumped to 316,000, the highest level since June. Jobless claims are a closely watched gauge of the labor market, but they can be volatile week to week, particularly around holidays such as Labor Day. The more reliable four-week average dropped by 4,750 last week to...

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