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  • A report released by the Labor Department on Thursday unexpectedly showed a slight increase in first-time claims for U.S. unemployment benefits in the week ended May 7th. The Labor Department said initial jobless claims crept up to 203,000, an increase of 1,000 from the previous weeks revised level of 202,000. The report showed the less volatile four-week moving average also edged up to 192,750, an increase of 4,250 from the previous weeks revised average of 188,500. Meanwhile, the Labor Department said continuing claims, a reading on the number of people receiving ongoing unemployment assistance fell by 44,000 to 1.343 million in the week ended April 30th. The report showed the unemployment rate came in unchanged at 3.6 percent

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