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WASHINGTON (Reuters) – The number of Americans seeking unemployment benefits has risen last week, but the overall trend remains consistent with improving labor market conditions.
The US Department of Labor said Thursday that the government's new claims for unemployment benefits had increased by 8,000, to a seasonally adjusted level of 215,000 for the week ending July 27. Data from the previous week has been revised to reflect an increase in the number of thousands of requests previously requested by the advertiser.
Economists polled by Reuters were counting on a request of 214,000 last week.
The trade war between the United States and China does not appear to lead to further job cuts. The Federal Reserve has reduced interest rates for the first time since 2008 to protect the economy from the risks of deterioration resulting from trade tensions and slowing global growth.
The four-week moving average, a more accurate indicator of the labor market excluding weekly volatility, declined from 1,750 to 211,500 last week.
Unemployment is expected to stabilize in July at 3.7%.
(Reuters)
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