Initial jobless claims fell less than expected

Initial jobless claims fell less than expected.

The reading came in 258,000, slightly higher than economists’ forecast of 256,000.

Last week claims came in at 260,000.

This is the 86th consecutive week that claims have been below 300,000 — the longest streak since 1970.

Meanwhile, yhe 4-week moving average was 253,000, a slight uptick of 1,000 from the previous week’s revised average.

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