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Jobless claims drop by 31,000

August 26, 2010

U.S. initial claims for unemployment insurance fell by 31,000 in the week ended Aug. 21 to 473,000, a decline of 6.2% from the previous week, according to seasonally adjusted number released today by the U.S. Department of Labor.

The number of initial claims for the previous week -- ended Aug. 14 -- was revised by 4,000 from the originally reported number of 500,000.

The four-week moving average of claims for the week ended Aug. 21 rose by 3,250, of 0.7%, to 486,750 from the previous week's revised average of 483,500.