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February 06, 2014 AT 5:36 AM
The number of Americans filing new claims for unemployment benefits fell more than expected last week, in a boost to the labor market outlook and the broader economy. Initial claims for state unemployment benefits declined 20,000 to a seasonally adjusted 331,000, the Labor Department said on Thursday. The data has no bearing on January's employment report, which will be released on Friday, as it falls outside the survey period. Still, it bodes well for the jobs market. The unemployment rate is forecast to hold steady at a five-year low of 6.7 percent.