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October 13, 2016 1 min read

The number of Americans applying for first-time unemployment benefits held at a four-decade low last week, a sign employers are holding on to workers as the labor market tightens.

Initial jobless claims, a proxy for layoffs, were unchanged at 246,000 in the week ended Oct. 8, the Labor Department said Thursday. The latest two weeks registered at the lowest level since November 1973.

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