US initial jobless claims drop a little more than expected

The number of Americans filing for unemployment benefits fell a touch more than expected last week, according to data from the Labor Department.

US initial jobless claims dropped by 13,000 to 239,000 from the previous week's level, which was revised up from 249,000. Economists had been expecting a slightly smaller drop to 240,000.

Meanwhile, the four-week moving average came in at 239,750, up 1,250 from the previous week's average, which was revised up by 750 to 238,500.

The four-week average is considered more reliable as it smooths out sharp fluctuations in the more volatile weekly figures, giving a more accurate picture of the health of the labour market.

The Labor Department said claims taking procedures continue to be disrupted in the Virgin Islands, while the ability to take claims has improved in Puerto Rico.