US initial jobless claims rise to 231,000

(Sharecast News) - Americans lined up for unemployment benefits at an accelerated pace in the week ended 31 January, according to the Labor Department. Initial jobless claims surged to 231,000, up by 22,000 from the prior week's unrevised reading and firmly ahead of market expectations of 212,000, while continuing claims rose by 25,000 to 1.84m.

Meanwhile, the four-week moving average, which aims to strip out week-to-week volatility, increased by 6,000 to 212,250.

On another note, the advance seasonally adjusted insured unemployment rate was 1.2% for the week ended 24 January, unchanged from the previous week's unrevised rate.







Reporting by Iain Gilbert at Sharecast.com