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US weekly jobless claims fall below estimates

Seasonally adjusted initial claims for U.S. unemployment benefits for the week ended Oct. 19 fell to 212,000 from the previous week's revised figure of 218,000, according to the latest data from the U.S. Labor Department.

The consensus estimate from economists polled by Econoday was for weekly jobless claims to stay unchanged at 214,000, which was the initial level reported for the week ended Oct. 12.

The four-week moving average was 215,000, down from the upwardly revised level of 215,750 in the previous week.

The seasonally adjusted insured unemployment rate, which measures the proportion of the labor force receiving unemployment benefits, was unchanged at 1.2% in the week ended Oct. 12. Insured unemployment totaled 1,682,000, down from the previous week's revised figure of 1,683,000.