After reporting modest increases in first-time claims for U.S. unemployment benefits in the two previous weeks, the Labor Department released a report on Thursday showing that initial jobless claims pulled back by more than expected in the week ended October 3rd.
The report said initial jobless claims fell to 263,000, a decrease of 13,000 from the previous week’s revised level of 276,000.
Economists had expected jobless claims to dip to 271,000 from the 277,000 originally reported for the previous week.
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