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US unemployment claims fall to 360,000, a new pandemic low

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unemployment insurance fell last week to a fresh pandemic low, indicating that dismissals are easing as business conditions improve and firms look to increase headcounts.

Initial claims in regular state programs decreased by 26,000 to 360,000 in the week ended July 10, Labor Department data showed Thursday.

The median estimate in a Bloomberg survey of economists called for 350,000 initial applications. The drop in new unemployment claims is in line with a broader economic recovery in the US, with businesses back to full capacity and demand for travel and leisure surging.

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