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U.S. initial jobless claims down


08:35, June 14, 2013

WASHINGTON, June 13 (Xinhua) -- The U.S. labor market maintained its growth momentum as latest Labor Department data showed the number of Americans initially applying for unemployment aid fell last week.

The advance figure for seasonally adjusted initial claims for jobless benefits was 334,000 in the week ending June 8, down 12,000 from the unrevised figure of 346,000 in the previous week, according to statistics released by the department on Thursday.

Meanwhile, the four-week moving average, which helps smooth out week-to-week volatility, edged down to 345,250 from 352,500 in the prior week. A reading below 375,000 generally indicates a sustained drop in the unemployment rate.

The advance figure for seasonally adjusted insured unemployment during the week ending June 1 stood at 2.973 million, up 2,000 from the previous week.

In May, the U.S. unemployment rate ticked up to 7.6 percent with total non-farm payroll employment increasing by 175,000. The recent declines in weekly jobless claims indicated steady job gains and may push down the unemployment rate in the coming months.

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