US initial jobless claims unexpectedly fall by 8,000

(Sharecast News) - Americans lined up for unemployment benefits at a decelerated pace in the week ended 14 March, according to the Labor Department, with initial jobless claims falling by 8,000 to 205,000 - below expectations of an increase of 2,000. Elsewhere, the four-week moving average, which aims to strip out week-to-week volatility, dropped by 750 to 210,750, while continuing claims rose by 10,000 to 1.857m in the prior week.

The Department of Labor also revealed that the advance seasonally adjusted insured unemployment rate came to 1.2%, unchanged from the previous week's unrevised rate.

The figures contrasted with recent weak jobs data from the Bureau of Labor Statistics, reinforcing the view that layoffs remain low.









Reporting by Iain Gilbert at Sharecast.com