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Jobless claims fall more than expected

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U.S. jobless claims fell by the largest amount in nine weeks, a sign that the labor market remains healthy despite a slow economy, reported the Associated Press.

The Labor Department reported today that the number of laid-off workers filing claims for unemployment benefits fell by 20,000 from the previous week to 321,000, which was more than double the decline predicted by analysts. The number of laid-off workers receiving unemployment benefits totaled 2.59 million for the week ending April 14, the highest level since the week of Feb. 17.

New York had the largest increase, with claim filings up by 16,037 due to layoffs in transportation, trade, services and public administration. California reported the biggest decline followed by Pennsylvania and Illinois.

The government will give its first estimate of economic growth for the first quarter of 2007 tomorrow.   

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