Weekly US jobless claims rise by more than expected

(Sharecast News) - Tightness in the US jobs market eased a bit further during the preceding week. According to the Department of Labor, in seasonally adjusted terms, initial unemployment claims for the week ending on 27 July increased by 14,000 to reach 249,000.

Economists had pencilled in a smaller increase to 236,000 from an unrevised 235,000 for the week before.

The four-week moving average meanwhile, which aims to smooth out the fluctuations in the data from one week to the next, was up by 2,500 to 238,000.

Secondary unemployment claims, which are those not being field for the first time and referencing the week ending on 20 July, grew by 33,000 to reach 1.877m.

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