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Weekly jobless claims increase

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Weekly jobless claims increase

Weekly claims figure of 270,000 narrowly beats analysts’ expectations.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended August 1 were 270,000, an increase of 3,000 from the previous week's figure.  

Analysts had expected an increase to 273,000.

The 4-week moving average, which smoothes out volatility to a certain extent, decreased 6,500 to 268,250.

Claims have now remained under the 300,000 threshold for 19 consecutive weeks, indicating a continued strengthening of the job market.

 

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