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Economic Report: U.S. jobless claims jump to highest level since November

The numbers: Initial jobless claims jumped 7,000 to 251,000 in the week ended July 16, the U.S. Labor Department said Thursday. 

This is the highest reading since last November.

Economists polled by The Wall Street Journal had estimated new claims would inch down to 240,000 from last week’s 244,000 reading.

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