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  • The Labor Department released a report showing a modest increase in first-time claims for U.S. unemployment benefits in the week ended July 30th. The report showed initial jobless claims crept up to 260,000, an increase of 6,000 from the previous weeks revised level of 254,000. The Labor Department said the less volatile four-week moving average also edged up to 254,750, an increase of 6,000 from the previous weeks revised average of 248,750. Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also rose by 48,000 to 1.416 million in the week ended July 23rd.

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