US jobless claims come in ahead of expectations

(Sharecast News) - Americans lined up for unemployment benefits at an accelerated pace in the week ended 8 August, according to the Labor Department, with initial claims coming in ahead of Wall Street estimates. Initial claims rose by 9,000 to 209,000 ahead of expectations for a reading of 202,000, while the four-week moving average, which aims to strip out week-to-week volatility, was unchanged week-on-week at 199,000. Meanwhile, continuing claims declined by 22,000 to 1.77m

The advance seasonally adjusted insured unemployment rate came to 1.2% for the week ended 1 August, unchanged from the previous week's unrevised rate.





Reporting by Iain Gilbert at Sharecast.com