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Jobless claims fell sharply in US last week after big rise the previous week

Jobless claims fell sharply in US last week after big rise the previous week

The U.S. Labor Department says the number of newly laid off workers filing claims for unemployment benefits fell sharply last week.
It fall comes after jobless claims hit the highest level in more than two years in the week before.
The Labor Department said Thursday that applications for jobless benefits totaled 357,000 last week, down by 53,000 from the previous week.
Even with last week's improvement, the four-week average for claims rose by 2,500 to 378,250, the highest level since early October 2005.