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A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rose by much more than expected in the week ended April 26th.
The Labor Department said initial jobless claims climbed to 241,000, an increase of 18,000 from the previous week's revised level of 223,000.
Economists had expected jobless claims to inch up to 224,000 from the 222,000 originally reported for the previous week.
The report also said the less volatile four-week moving average rose to 226,000, an increase of 5,500 from the previous week's revised average of 220,500.
