US initial jobless claims increase by 44,000

(Sharecast News) - Americans lined up for unemployment benefits at an accelerated clip in the week ended 6 December, according to the Department of Labor, more than reversing the prior week's decline. Initial jobless claims rose by 44,000 to 236,000, significantly above market expectations of 220,000. The previous week's level was revised up by 1,000 to 192,000.

Continuing claims, on the other hand, fell by 99,000 to 1.83m, while the four-week moving average, which aims to strip out week-to-week volatility, increased by 2,000 to 216,750.

The advance seasonally adjusted insured unemployment rate was fell by 0.1% to 1.29%.





Reporting by Iain Gilbert at Sharecast.com