First-time jobless claims up in US
Friday 23 May 1997
The new claims activity fell short of Wall Street's forecast of 324,000 claims. The four-week moving average climbed to 333,250 from a revised 332,500 a week earlier. Economists usually view the average as a more reliable yardstick of jobless trends because it evens out weekly fluctuations in the data. But automobile industry strikes and Midwestern flooding have skewed the moving average recently, making it a less useful gauge for now, some economists said.
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