US initial jobless claims drop by 6,000

(Sharecast News) - Americans lined up for unemployment benefits at a decelerated pace last week, according to fresh data from the Department of Labor. Initial jobless claims fell by 6,000 to a seasonally adjusted 216,000 in the week ended 22 November, below market expectations of an increase to 225,000, while continuing claims, which track those still receiving benefits, increased by 7,000 from the prior week's downwardly revised figure to 1.96m.

The four-week moving average, which aims to strip out week-to-week volatility, came to 223,750, down by 1,000 from the previous week's print. The unemployment rate held steady at 1.3%.

Initial claims filed by former employees of the Federal government fell by 3,995 to 1,724.







Reporting by Iain Gilbert at Sharecast.com