Initial claims drop more than expected

pulse

May 4, 2017 1:23 PM

The latest reading on initial jobless claims.

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Initial claims dropped more than expected.

Claims, fell by 19,000 to 238,000.

Economists had forecast claims would dip to

Initial jobless claims are used as a real-time proxy for the pace of layoffs since people usually file for benefits soon after they lose their jobs.

The four-week moving average was 243,000, an uptick of 750 from the previous week's unrevised average of 242,250.

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