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More timely indicators such as first-time claims for unemployment benefits and the stock market show, if anything, an increase in momentum.
First-time claims for jobless benefits declined slightly last week.
The number of Americans filing first-time claims for jobless benefits fell unexpectedly last week.
While the figures are volatile, first-time claims have trended downward in recent months.
In June 2000, when first-time claims were only about 280,000, the economy lost jobs.
That is one reason that first-time claims for unemployment benefits are not rising faster.
A recent sharp increase in first-time claims for unemployment benefits also stopped.
First-time claims for state unemployment benefits rose 15,000 last week, to 413,000.
Last week was the fifth in a row that first-time claims stayed below 400,000.
The Labor Department said first-time claims dropped by 14,000 to a seasonally adjusted 442,000.
First-time claims for unemployment benefits dropped to 473,000 last week, a bigger drop than analysts had expected.
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CEO of Professional Science Editing for Scientists @ prosciediting.com