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U.S. Weekly Jobless Claims Edge Up Less Than Expected

First-time claims for U.S. unemployment benefits increased for the second straight week in the week ended July 25th, according to a report released by the Labor Department on Thursday, although claims rose by much less than expected.

The report said initial jobless claims edged up to 1.434 million, an increase of 12,000 from the previous week's revised level of 1,422,000.

Economists had expected jobless claims to rise to 1.450 million from the 1.416 million originally reported for the previous week.

The increase in jobless claims seen over the past two weeks came on the heels of decreases in the fifteen preceding weeks.

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