US initial jobless claims nudge up by 1,000

(Sharecast News) - Americans lined up for unemployment benefits at an accelerated pace in the week ended 1 August, according to the Labor Department, with initial claims rising by 1,000 to 199,000, slightly below expectations for a reading of 202,000. Continuing claims rose by a sharper 24,000 to 1.8m, below expectations of 1.79m, while the four week-moving average, which aims to strip out week-to-week volatility, dropped by 4,500 to 198,750.

Also of note, the advance seasonally adjusted insured unemployment rate came to 1.2% for the week ended 25 July, unchanged from the previous week's unrevised rate.









Reporting by Iain Gilbert at Sharecast.com