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US Initial Jobless Claims Dropped Last Week

Initial jobless claims in the United States fell last week, according to a report from the Labor Department. The number of claims dropped 6,000 to a seasonally adjusted 186,000, surprising analysts who had expected an increase to 205,000.

This is the first time since the start of the COVID-19 pandemic that the number of initial jobless claims has dropped below 215,000, the pre-COVID-19 weekly average in the United States.

However, the report also showed that the number of Americans still claiming unemployment benefits rose by 20,000 to 1.68 million. This suggests that while the number of new claims is decreasing, many Americans are still struggling to find work as the country continues to recover from the economic impact of the pandemic.

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