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The number of Americans filing for unemployment benefits dropped less than expected last week, capping off a volatile month that signaled a slowing of the labor market’s rebound.

Jobless claims dipped to an unadjusted 385,000 last week, the Labor Department announced Thursday. That compares to a median estimate of 383,000 claims from economists surveyed by Bloomberg. The reading also keeps claims well above the pandemic-era low set earlier in July.

The prior week’s reading was revised to 399,000 from 400,000.

Continuing claims, which count Americans receiving unemployment benefits, sank to 2.93 million for the week that ended July 24. That’s details ⇒

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