Investing.com - The number of people who filed for unemployment assistance in the U.S. last week fell more-than-expected, while the previous week’s figure was revised higher, official data showed on Thursday.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 22 fell by 26,000 to a seasonally adjusted 359,000, compared to expectations for a decrease of 7,000 to 378,000.
The previous week’s figure was revised up to 385,000 from a previously reported 382,000.
Jobless claims have remained below 400,000, a level historically associated with an improving labor market, in 46 of the past 48 weeks, though lately claims have been pushing higher from the 350,000 associated with above-average job growth.
Continuing jobless claims in the week ended September 15 fell to 3.271 million from a revised 3.275 million. Analysts had expected continuing claims to decline to 3.285 million.
The four-week moving average was 374,000, a decrease of 4,500 from the previous week's revised average of 378,500.
The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.
Following the release of the data, the U.S. dollar was lower against the euro, with EUR/USD adding 0.07% to trade at 1.2883.
Meanwhile, U.S. stock index futures held on to gains. The Dow Jones Industrial Average futures pointed to a rise of 0.45% at the open, S&P 500 futures indicated a gain of 0.5%, while the Nasdaq 100 futures signaled an increase of 0.35%.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 22 fell by 26,000 to a seasonally adjusted 359,000, compared to expectations for a decrease of 7,000 to 378,000.
The previous week’s figure was revised up to 385,000 from a previously reported 382,000.
Jobless claims have remained below 400,000, a level historically associated with an improving labor market, in 46 of the past 48 weeks, though lately claims have been pushing higher from the 350,000 associated with above-average job growth.
Continuing jobless claims in the week ended September 15 fell to 3.271 million from a revised 3.275 million. Analysts had expected continuing claims to decline to 3.285 million.
The four-week moving average was 374,000, a decrease of 4,500 from the previous week's revised average of 378,500.
The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.
Following the release of the data, the U.S. dollar was lower against the euro, with EUR/USD adding 0.07% to trade at 1.2883.
Meanwhile, U.S. stock index futures held on to gains. The Dow Jones Industrial Average futures pointed to a rise of 0.45% at the open, S&P 500 futures indicated a gain of 0.5%, while the Nasdaq 100 futures signaled an increase of 0.35%.