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Weekly US jobless claims drop 42,000 to 338,000

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The number of Americans applying for unemployment benefits dropped by 42,000 last week to a seasonally adjusted 338,000, the biggest drop since November 2012. But economists say the figures from late November and December are warped by seasonal volatility around the Thanksgiving, Christmas and New Year's holidays. The Labor Department reported Thursday that the less-volatile four-week average...

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