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Nov. Jobless Claims are Less than Expected

The number of Americans filing applications for jobless benefits fell less than expected last week while the four-week moving average of claims rose to its highest level since April, suggesting some loss of momentum in the labor market.

CNBC reported that initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 231,000 for the week ended Dec. 1, the Labor Department said on Thursday. Data for the prior week was revised to show 1,000 more applications received than previously reported.

Economists polled by Reuters had forecast claims falling to 225,000 in the latest week.

U.S. unit labor costs rebounded less than initially thought in the third quarter and the decline in the prior period was sharper than previously estimated, suggesting moderate growth in wage inflation.

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