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New jobless claims fall to 10-mth low

WASHINGTON: The number of US workers filing new claims for jobless insurance fell more than expected last week to a 10-month low, government data showed on Thursday, pointing to a gradual improvement in the labor market. Initial claims for state unemployment benefits dropped 20,000 to a seasonally adjusted 512,000 in the week ended Oct 31, the lowest since early January, the Labor Department said.

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