U.S. initial jobless claims unexpectedly rise
US initial jobless claims were up 15,000 to 258,000 from the previous week's average, which was revised up to 243,000 from 241,000. Analysts had been expecting a drop to 240,000.
Meanwhile, the four-week moving average came in at 240,000, up 1,000 from the previous week's average, which was revised up to 239,000 from 237,250.
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. ■