Initial jobless claims rise as expected

Initial jobless claims rose to 269,000 last week, matching expectations.

Economists had estimated that first-time claims for unemployment insurance rose by 9,000 last week, up from 260,000 in the prior period. The Labor Department reported no special factors in this week's data.

The four-week moving average was 269,250, down 1,750 from the prior week's unrevised average. The trend is still near all-time lows.

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