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US Initial Jobless Claims Rise in Week Ended Aug. 8

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US initial jobless claims rose to a level of 209,000 in the week ended Aug. 8 from an upwardly revised 200,000 level in the previous week, compared with expectations for a smaller increase to 202,000 in survey of analysts compiled by Bloomberg.

The four-week moving average remained flat at 199,000 after decreasing by 4,250 in the previous week.

Insured jobless claims decreased by 22,000 to 1,777,000 in the week ended Aug. 1, exactly reversing the previous week's gain.

The weekly initial jobless claims data released by the US Labor Department measures filings for unemployment insurance benefits. Initial filings are reported through the previous Saturday, while those already on benefits are measured with a one-week lag.

A decrease in claims suggests a stronger labor market, a positive for the US economy and stocks, but a negative for bonds as it suggests wage growth that could lead to inflation.

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US Initial Jobless Claims Rise in Week Ended Aug. 8 | FINWIRES