US initial jobless claims rise a little less than expected

The number of Americans filing for unemployment benefits rose a little less than expected last week, according to data released on Thursday by the Labor Department.

Initial jobless claims increased by 2,000 from the previous week’s upwardly-revised level to 232,000. This was below expectations for a jump to 235,000.

Meanwhile, the previous week’s level was revised up by 1,000.

The four-week moving average came in at 229,500, down 2,500 from the previous week's average, which was revised up by 250 to 232,000.

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.