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US initial jobless claims fall to 187,000, lowest since 1969

financeJul 23, 202628131

Initial claims for US unemployment benefits fell by 22,000 to 187,000 in the week ended July 18, the lowest weekly reading since 1969, the Labor Department data showed. The result beat the Bloomberg survey median forecast of 210,000. Continuing claims stood at about 1,796,000, down roughly 2,000 from the prior week. Bloomberg said the drop signals layoffs remain muted and a stable labor market. U.S. Treasury yields had advanced ahead of the release, with the 10-year topping 4.7 percent as oil prices rose, according to market reports. Reuters noted the solid labor data leaves Federal Reserve officials focused on containing inflation.

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