U.S. initial jobless claims rise less than expected
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. ■