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US jobless claims edge higher

The unemployment rate fell to 5.9 percent in September, its lowest level in six yearsNew claims for US unemployment insurance benefits rose slightly last week but remained below 300,000 for the sixth straight week, government data released Thursday showed. Initial jobless claims rose by 17,000 to 283,000 in the week ending October 18, the Labor Department said. The increase in jobless claims, a sign of the pace of layoffs, was smaller than analysts expected, with the average estimate pegged at 285,000.

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