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Story summary
- U.S. Labor Department reported jobless claims fell to 206,000 last week.
- Four-week average of claims rose to 204,000 from 199,750.
- Carl Weinberg, chief economist at High Frequency Economics, said the labor market shows no wear from the oil-price surge.
- President Donald Trump’s immigration crackdown and baby-boomer retirements removed over 1.3 million workers from the labor force.
- Companies, government agencies and nonprofits cut 23,000 jobs in July.
