INV: U.S. jobless claims fall to 5-week low of 261,000 last week
Investing.com - The number of people who filed for unemployment assistance in the U.S. last week fell to a five-week low, remaining in territory associated with a healthy 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 August 20 decreased by 1,000 to a seasonally adjusted 261,000 from the previous weekâs total of 262,000. Analysts expected jobless claims to rise by 3,000 to 265,000 last week.
The four-week moving average was 264,000, down 1,250 from the previous week. The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.