US jobless claims drop unexpectedly during latest week

(Sharecast News) - The U.S. labour market continued to show only limited signs of easing during the previous week. According to the Department of Labor, in seasonally adjusted terms initial unemployment claims dropped by 8,000 over the week ending on0 February to reach 212,000.

Economists had forecast a reading of 220,000.

The four-week moving average meanwhile jumped by 5,750 to 218,500.

Secondary unemployment claims, which are those not being filed for the first time and referencing the week that finished on 3 February, rose by 30,000 to reach 1.895m.

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