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Jobless claims fall

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Jobless claims fall

Decline of 3,000 beats analyst expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended July 12 were 302,000, a decrease of 3,000 from the previous week's revised figure of 305,000.

Analysts had expected claims to rise at 310,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 3,000 to 309,000.

The results, along with other generally positive indicators, suggest a continuation of the moderate strengthening of the jobs market.

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