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U.S. Weekly Jobless Claims Spike To 6.648 Million

After reporting a substantial increase in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing another spike in jobless claims in the week ended March 28th.

The Labor Department said initial jobless claims skyrocketed to 6.648 million, an increase of 3.341 million from the previous week's revised level of 3.307 million.

With another record-breaking increase, the number of seasonally adjusted initial claims reached the highest level in the history of the seasonally adjusted series.

The report said the less volatile four-week moving average also surged up to 2,612,000, an increase of 1,607,750 from the previous week's revised average of 1,004,250.

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