New claims for unemployment benefits in the U.S. were 385,000 last weeks, higher than the 353,000 expected by economists. The week's increase caused the four week moving avarget to rise by more than 11,000, the highest reading since February 22nd.
Despite the increases, the fact that both number were below 400,000, a cutoff point that economists consider to be a sign of an improving labor market.
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