US initial jobless claims tick lower
The number of Americans filing for unemployment dipped a touch last week, according to data from the Labor Department.
US initial jobless claims fell by 1,000 from the previous week’s revised level to 216,000. The previous week's level was revised up by 3,000 to 217,000. Economists had pencilled in a level of 217,000.
Meanwhile, the four-week moving average declined by 4,750 to 218,000. The previous week's average was revised up by 750 to 222,750.
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.