US jobless claims increase more than expected

(Sharecast News) - Americans lined up for unemployment benefits at an accelerated pace in the week ended 15 February, according to the Labor Department. Initial jobless claims rose by 5,000 to 219,000 last week, ahead of expectations for a reading of 215,000, while continuing claims were broadly in line with expectations at 1.869m.

The four-week moving average, which aims to smooth out week-to-week volatility, decreased by 1,000 week-on-week to 215,250.

The advance seasonally adjusted insured unemployment rate was 1.2%, unchanged from the previous week's unrevised rate.





Reporting by Iain Gilbert at Sharecast.com