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WASHINGTON : The number of Americans filing new claims for jobless benefits fell faster than expected last week, extending a two-week decline, government data showed Thursday.
Claims for the week to August 28 fell to 472,000 from the previous week's revised figure of 478,000, the Labour Department said.
The latest figure was better than most economists' expectations of 475,000 new claims.
Although the new figures appeared to provide some evidence to the strengthening of the US economy, analysts said the drop in claims was linked to an increased number of claimants seeing their benefits expire and not from a pick-up in hiring activities.
Initial job claims, which touched their highest level in nine months in the middle of August at 504,000 claims, nevertheless remained significantly higher than the 400,000 level which was seen as necessary to sustain a strong economy.
"The drop in claims over the last two weeks suggests the 504,000 reading in mid-August was a temporary aberration, and that the economy has slowed but not slipped into recession," analysts at Nomura Global Economics said in a note.
"The four-week average is consistent with positive private payroll growth, but perhaps a rising unemployment rate," they said.
- AFP/al
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