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First-Time Unemployment Claims Hold Above 400K as Jobs Recover Slower than Predicted

While first-time unemployment claims dropped from 418,000 to 411,000 from the previous week, figures are continuing to stay higher than economists predicted, signaling a slower than expected recovery in employment. Meanwhile, the Commerce Department released data showing the U.S. economy grew at a robust 6.4 percent while GDP went unchanged from the previous report.

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