US initial jobless claims rebound from 57-year low

(Sharecast News) - Americans lined up for unemployment benefits at an accelerated pace in the week ended 25 July, according to the Labor Department, with initial claims rising by 9,000 to 197,000 from the prior week's 57-year low. Continuing claims, on the other hand, fell by 7,000 to 1.78m, below expectations of 1.8m, while the four week-moving average, which aims to strip out week-to-week volatility, dropped by 5,000 to 202,750.

Also of note, the advance seasonally adjusted insured unemployment rate came to 1.2% for the week ended 18 July, unchanged from the previous week's unrevised rate.









Reporting by Iain Gilbert at Sharecast.com