Investing.com - The number of people who filed for unemployment assistance in the U.S. fell more-than-expected last week, holding near the lowest level in five years, 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 February 10 fell by 27,000 to a seasonally adjusted 341,000, compared to expectations for a decline of 8,000 to 360,000.
Jobless claims for the preceding week were revised up to 368,000 from a previously reported gain of 366,000.
Continuing jobless claims in the week ended February 3 fell to 3.114 million. Analysts had expected continuing claims to fall to 3.200 million from last week’s revised figure of 3.244 million.
The four-week moving average was 352,500, an increase of 1,500 from the previous week's unrevised average of 351,000.
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 remained higher against the euro, with EUR/USD shedding 0.84% to trade at 1.3340.
Meanwhile, U.S. stock index futures pointed to a lower open. The Dow Jones Industrial Average futures indicated a loss of 0.25% at the open, S&P 500 futures declined 0.1%, while the Nasdaq 100 futures signaled a drop of 0.25% at the open.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending February 10 fell by 27,000 to a seasonally adjusted 341,000, compared to expectations for a decline of 8,000 to 360,000.
Jobless claims for the preceding week were revised up to 368,000 from a previously reported gain of 366,000.
Continuing jobless claims in the week ended February 3 fell to 3.114 million. Analysts had expected continuing claims to fall to 3.200 million from last week’s revised figure of 3.244 million.
The four-week moving average was 352,500, an increase of 1,500 from the previous week's unrevised average of 351,000.
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 remained higher against the euro, with EUR/USD shedding 0.84% to trade at 1.3340.
Meanwhile, U.S. stock index futures pointed to a lower open. The Dow Jones Industrial Average futures indicated a loss of 0.25% at the open, S&P 500 futures declined 0.1%, while the Nasdaq 100 futures signaled a drop of 0.25% at the open.