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U.S. Jobless Claims Rebound From Nearly 50-Year Low

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After reporting first-time claims for U.S. unemployment benefits at a nearly fifty-year low in the previous week, the Labor Department released a report on Thursday showing initial jobless claims rebounded by more than anticipated in the week ended April 20.

The report said initial jobless claims climbed to 230,000, an increase of 37,000 from the previous week's revised level of 193,000.

Economists had expected jobless claims to rise to 200,000 from the 192,000 originally reported for the previous week.

The bigger than expected increase came after the number of jobless claims in the previous week represented their lowest level since hitting 182,000 in September of 1969.

The Labor Department said the less volatile four-week moving average also rose to 206,000, an increase of 4,500 from the previous week's revised average of 201,500.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also inched up by 1,000 to 1.655 million in the week ended April 13.

The four-week moving average of continuing claims still dropped to 1,687,750, a decrease of 25,000 from the previous week's revised average of 1,712,750.

Next Friday, the Labor Department is scheduled to release its more closely watched monthly employment report for March.

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