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Initial jobless claims fell by 42,000 last week, the Labor Department said Thursday.

Applications for jobless benefits for the week ended Saturday fell to 346,000, Labor said.

The initial claims figure was lower than economists’ forecast of 360,000, Bloomberg News reported.

The four-week moving average, a less volatile measure, rose to 358,000 last week, from 355,000.

Continuing jobless claims for the previous week ended March 30 fell by 12,000 to 3.08 million.