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US weekly jobless claims resume downward trend, falling slightly to 411,000

FILE PHOTO: People who lost their jobs wait in line to file for unemployment benefits, following an outbreak of the coronavirus disease (COVID-19), at Arkansas Workforce Center in Fort Smith, Arkansas, U.S. April 6, 2020. REUTERS/Nick Oxford/File Photo

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Weekly filings for unemployment benefits fell just barely last week, resuming a steady downward trend after last week’s surprise increase.

Jobless claims totaled an unadjusted 411,000 last week, the Labor Department said Thursday. Economists surveyed by Bloomberg held a median estimate of 380,000 claims. The previous week’s count was revised to 418,000 from 412,000.

The slight decline suggests the labor market’s recovery may be stagnating as claims fail to return to their pandemic-era lows. Though the government’s monthly payrolls report includes the most detailed hiring data, weekly claims counts reveal whether businesses are holding on to employees details ⇒

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