US initial jobless claims fall a little
The number of Americans filing for unemployment benefits fell a little last week, according to data from the Labor Department.
US initial jobless claims declined by 2,000 to 238,000 from the previous week's level, which was revised up by 1,000. Economists had been expecting claims to be unchanged at 240,000.
Meanwhile, the four-week moving average rose 2,250 to 242,250 from the previous week's average, which was revised up by 250 from 239,750.
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.
Dennis de Jong, managing director at UFX.com, said: "Relatively static claims in unemployment insurance follow the year’s trend to date, with the US labour force seemingly robust, bar an outlying spike in unemployment back in July.
“Donald Trump will take heart from the slight fall in claimants, particularly after early blows in his first term to various employment-driving infrastructure projects.
“With the holiday season upon us, an optimistic outlook, and one that the President will almost certainly peddle, is that the latest figures are indicative of a resilient jobs market heading in the right direction, which is the mainstay of healthy economic growth.”