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U.S. initial jobless claims rise less than expected

Staff Writer |
The number of Americans filing for unemployment benefits rose less than expected last week, according to data from the Labor Department.

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U.S. initial jobless claims were up 5,000 to 239,00 from the previous week's unrevised level. Analysts had expected claims to jump to 245,000.

Meanwhile, the four-week moving average came in at 245,250, up 500 from the previous week's average, which was revised up from 244,250.

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.

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