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Jobless Claims Fall 26,000 to 350,000 in Week Ended July 5

Initial claims for U.S. state unemployment benefits plunged by 26,000 to 350,000 in the July 7 holiday week, the lowest level since 348,000 in the March 8, 2008 week, as the impact of auto retooling shutdowns was smaller than seasonal adjustment factors has expected, the Labor Department reported Thursday.

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