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US weekly jobless claims plunge to lowest in 15 years

New claims for US unemployment insurance benefits hold steady in the week to April 18Weekly claims for US unemployment insurance benefits plunged to their lowest level since April 2000 last week, the Labor Department reported Thursday. Initial jobless claims, a sign of the pace of layoffs across the country, dropped 34,000 in the week to April 25 from the previous week to 262,000. The Labor Department said there were no particular reasons for the sharp decline, which if sustained could represent a further tightening of the labor market.

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