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U.S. jobless claims edge up last week
Last Updated: 2018-11-22 17:09 | Xinhua
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The U.S. initial jobless claims edged up to a more than 4-month high, while the labor market remained at a tight level, according to a report released by the U.S. Labor Department on Wednesday.

In the week ending on Nov. 17, the number of people filing for U.S. unemployment benefits increased by 3,000 from previous week's revised figure, reaching 224,000, said the report.

According to the department, the previous week's figure was revised up by 5,000 from 216,000 to 221,000.

The report also showed that four-week average of initial claims increased by 2,000 to 218,500 last week, as the previous week's average was revised up from 215,250 to 216,500.

The reading of initial jobless claims remained below the 300,000 threshold, which is associated with a strong labor market.

The U.S. economy added 250,000 jobs in October with the unemployment rate unchanged at 3.7 percent, the lowest level in almost five decades, the department reported earlier this month.

With the jobless rate at a low level, the market estimated that the U.S. labor market was near or at full employment, while the continued hiring and wage increases would support U.S. Federal Reserve to further raise its benchmark interest rate.

The Fed raised its benchmark interest rate for the third time this year in September. Fed policy makers also indicated another possible rate hike in December.

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