US initial jobless claims rise as expected

The number of Americans filing for unemployment benefits rose as expected last week, according to figures released by the Department of Labor on Thursday.

Initial jobless claims were up 4,000 from the previous week's revised level to 215,000, in line with analysts' expectations. The previous week's level was revised up by 2,000 from 209,000.

Meanwhile, the four-week moving average came in at 214,500, down 500 from the previous week's average, which was revised up by 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.

Continuing claims - i.e. the number of people already collecting unemployment benefits - rose to 1.698m from a revised 1.676m, versus expectations for a level of 1.680m. The previous week's level was revised up by 2,000.