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U.S. Weekly Jobless Claims Rise More Than Expected

A report released by the Labor Department on Thursday showed a modest increase in first-time claims for U.S. unemployment benefits in the week ended August 10th.

The report said initial jobless claims rose to 220,000, an increase of 9,000 from the previous week's revised level of 211,000.

Economists had expected jobless claims to rise to 214,000 from the 209,000 originally reported for the previous week.

The Labor Department said the less volatile four-week moving average inched up to 213,750, an increase of 1,000 from the previous week's revised average of 212,750.

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