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U.S. Jobless Claims Rise Less Than Expected And Remain Low

Topline: The number of Americans applying for first-time unemployment benefits rose less than expected last week, yet another sign that a strong job market should be able to prop up a moderately growing U.S. economy.

Key background: Overall unemployment remains at a near-historic low of 3.7%, according to the Bureau of Labor Statistics’ latest monthly report. The August report showed that the labor market remains solid, with 130,000 jobs added—compared with the average 158,000 added per month so far this year. Just over 6 million people were unemployed last month, compared with more than 14 million in July 2009, at the beginning of the 11-year economic expansion.

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