Investing.com - The number of people who filed for unemployment
assistance in the U.S. last week rose more than expected, dampening
optimism over the strength of the labor market, official data
showed on Thursday.
In a report, the U.S. Department of Labor said the number of
individuals filing for initial jobless benefits in the week ending
July 26 increased by 23,000 to a seasonally adjusted 302,000 from
the previous week's total of 279,000, which was the lowest since
Analysts had expected jobless claims to rise by 22,000 to
301,000 last week.
Continuing jobless claims in the week ended July 19 rose to
2.539 million from 2.508 million in the preceding week. Analysts
had expected continuing claims to fall to 2.495 million.
The four-week moving average was 297,250, a decrease of 3,500
from the previous week's total of 300,750. The monthly average is
seen as a more accurate gauge of labor trends because it reduces
volatility in the week-to-week data.
Following the release of the data, the U.S. dollar held on to
gains against the euro, with EUR/USD shedding 0.18% to trade at
Meanwhile, U.S. equity markets pointed to a lower open. The Dow
indicated a loss of 0.5%, the S&P 500 pointed to a decline of
0.5%, while the Nasdaq 100 indicated a drop of 0.6%.
offers an extensive set of professional tools for the financial
Read more News on Investing.com and download the new
Investing.com Stocks & Forex App