forex newsU.S. Weekly Jobless Claims Rise More Than Expected To 217,000

U.S. Weekly Jobless Claims Rise More Than Expected To 217,000

First-time claims for unemployment benefits in the U.S. showed a modest increase in the week ended July 21st, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims rose to 217,000, an increase of 9,000 from the previous week’s revised level of 208,000.

Economists had expected jobless claims to rise to 215,000 from the 207,000 originally reported for the previous week.

Meanwhile, the Labor Department said the less volatile four-week moving average dipped to 218,000, a decrease of 2,750 from the previous week’s revised average of 220,750.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also fell by 8,000 to 1.745 million in the week ended July 14th.

The four-week moving average of continuing claims still climbed to 1,745,750, an increase of
9,500 from the previous week’s revised average of 1,736,250.

The material has been provided by InstaForex Company – www.instaforex.com

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