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WASHINGTON (Reuters) - The number of Americans filing new applications for unemployment benefits last week fell to its lowest level in more than 41-1/2 years, suggesting the labor market maintained a solid pace of job growth in July.6 \. W! w! q% q; T* I2 j6 w0 O" Q
0 m, X* s' l/ z% }The sturdy jobs picture together with a strengthening housing market brings the Federal Reserve a step closer to raising interest rates this year.
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}6 j4 c1 j( i g) ^) h; WInitial claims for state unemployment benefits declined 26,000 to a seasonally adjusted 255,000 for the week ended July 18, the lowest level since November 1973, the Labor Department said on Thursday. - i0 C6 G+ o4 Y7 ?9 Y5 a
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