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December 26, 2013 AT 4:33 AM
The number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly a month, a hopeful sign for the labor market. Initial claims for state unemployment benefits decreased 42,000 to a seasonally adjusted 338,000, the Labor Department said on Thursday. The four-week moving average for new claims, which irons out week-to-week volatility, increased 4,250 to 348,000.