US initial jobless claims rise less than expected

FXStreet (Mumbai) – The US labor department data released on Thursday showed the first time applications for unemployment benefits stayed near cyclical lows, a sign that the labor market continues to improve.

Jobless claims stay below 300K for the 21st consecutive week

The initial jobless claims rose to 267K in the week ended July 24, compared to the estimated rise to 270K from previous week’s print of 255K. The four-week average of claims, which provides a more accurate picture of the labor market strength, fell 3,750 to 274,750 last week.

The continuing claims rose 46,000 to 2.26 million in the week ended July 18. The so-called continuing claims covered the week during which the government surveyed households for July’s unemployment rate.

The US labor department data released on Thursday showed the first time applications for unemployment benefits stayed near cyclical lows, a sign that the labor market continues to improve.

(Market News Provided by FXstreet)