Jobless Claims Reach Six-Year High

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Initial jobless claims rose last week to the highest level in six years, the Labor Department said Thursday.

Claims for the week ended Saturday increased by 7,000, to 455,000, Labor said.

Economists had forecast claims would fall to 425,000, Bloomberg reported.

The four-week moving average, a less volatile measure, rose to 419,500, from 392,750.



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