US initial jobless claims decline by 4,000

(Sharecast News) - Americans lined up for unemployment benefits at a decelerated rate in the week ended 19 July, according to the Labor Department. Initial jobless claims fell to 217,000, down by 4,000 from the prior week's unrevised 221,000 reading, while continuing claims came to 1.95m, an increase of 4,000 from the previous week's downwardly revised level.

The four-week moving average, which aims to strip out week-to-week volatility, decreased by 5,000 to 224,500.

Also of note, the advance seasonally adjusted insured unemployment rate came to 1.3% for the week ended 12 July, unchanged from the previous week's unrevised reading.







Reporting by Iain Gilbert at Sharecast.com