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U.S. initial jobless claims slightly rebound
Last Updated: 2013-08-09 08:12 | Xinhua
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The number of Americans initially applying for unemployment aid had edged up from a five-year low, but still indicated an improving labor market, the Labor Department reported Thursday.

In the week ending Aug. 3, the advance figure of seasonally adjusted initial claims for jobless benefits rose slightly by 5,000 to 333,000 from an upward-revised figure of 328,000 for the previous week.

But the four-week moving average, which helps smooth out week-to- week volatility, declined by 6,250 to 335,500, the least since November 2007 and well below the benchmark level of 375,000, which indicates a sustained recovery in employment.

The advance figure of seasonally adjusted insured unemployment during the week ending July 27 stood at 3.018 million, up 67,000 from the previous week.

The U.S. unemployment rate went down to 7.4 percent in July, the lowest since Dec. 2008, but the economy added 162,000 jobs in the month, slightly fewer than the average monthly gain of 189,000 over the prior 12 months.

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