U.S. initial jobless claims lower than expected last week

According to the Bureau of Labor Statistics, initial jobless claims fell by 5,000 last week to 213,000. This marked the fifth consecutive week of declines in initial claims, reaching a 3-month low, while analysts had expected an increase to 226,000.

Initial jobless claims are below 215,000, the weekly average prior to the COVID-19 pandemic in the United States.

The number of Americans continuing to file for unemployment benefits rose by 2,000 to 1.4 million.

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