Applications for U.S. unemployment benefits declined for a fifth straight week to the lowest level since mid-April, showing a resilient job market. First-time jobless claims decreased by 7,000 to 221,000 in the week ended July 12. The median forecast in a Bloomberg survey of economists called for 233,000 applications.
The four-week moving average of new applications, a metric that helps smooth out volatility, dropped to 229,500 " the lowest since early May.
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