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Initial Jobless Claims Slump as Two U.S. States Underreport

Bloomberg (09/12/13) Jeanna Smialek

U.S. jobless claims fell last week to the lowest level since April 2006, in part because two states were working on their computer systems and reported fewer applications for unemployment benefits. Claims declined by 31,000 to 292,000 in the week ended Sept. 7, according to the U.S. Department of Labor. A Bloomberg forecast of economists had anticipated 330,000 claims. The less-volatile four-week moving average declined to 321,250, the lowest since October 2007, from 328,750.