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The number of people in the U.S. filing for unemployment for the first time went down to its lowest in 4 years.

Jobless claims dropped from 304,000 to 302,000 in the matter of a week. Economists expected them to reach 315,000.

A Reuters article says,

"The surprise fall is likely to boost analyst expectations for February's broader payroll report, which surveys employers at the same time of the month as last week's jobless claims report.

The payrolls report, due out in March, is compiled in the pay period which contains the 12th day of the month.

The closely watched four-week moving average, which smooths weekly volatility in claims, also fell, to 311,750, down 4,000 from the previous week."

Increases in spending and production indicate that companies will need to retain employees to keep up with demand.

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