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US weekly jobless claims rise to 244,000

U.S. initial claims for unemployment benefits increased by 3,000 to a seasonally adjusted 244,000 for the week ended Aug. 5, according to the U.S. Department of Labor. This compared to the previous week's revised figure of 241,000, which was revised upward by 1,000.

Meanwhile, the four-week moving average was 241,000, 1,000 lower than the previous week's revised 242,000 average, which was revised upward by 250.

The advance seasonally adjusted insured unemployment rate remained unchanged at 1.4% for the week that ended July 29. The advance number for insured unemployment decreased by 16,000 to 1,951,000 from the previous week's revised level of 1,967,000.