Investing.com - The number of people who filed for unemployment assistance in the U.S. last week fell less-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 April 14 fell by 2,000 to a seasonally adjusted 386,000, disappointing expectations for a decline of 18,000 to 370,000.
The previous week’s figure was revised up to 388,000 from 380,000.
Jobless claims have remained below 400,000, a level historically associated with an improving labor market, in 23 of the past 25 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 April 7 rose to 3.297 million from an upwardly revised 3.271 million. Analysts had expected continuing claims to rise to 3.280 million.
The four-week moving average was 347,750, a decrease of 5,000 from the previous week's revised average of 369,250.
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 0.33% to trade at 1.3080.
Meanwhile, U.S. stock index futures turned lower after the data. The Dow Jones Industrial Average futures indicated a drop of 0.1% at the open, S&P 500 futures pointed to a loss of 0.15%, while the Nasdaq 100 futures signaled a decline 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 April 14 fell by 2,000 to a seasonally adjusted 386,000, disappointing expectations for a decline of 18,000 to 370,000.
The previous week’s figure was revised up to 388,000 from 380,000.
Jobless claims have remained below 400,000, a level historically associated with an improving labor market, in 23 of the past 25 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 April 7 rose to 3.297 million from an upwardly revised 3.271 million. Analysts had expected continuing claims to rise to 3.280 million.
The four-week moving average was 347,750, a decrease of 5,000 from the previous week's revised average of 369,250.
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 0.33% to trade at 1.3080.
Meanwhile, U.S. stock index futures turned lower after the data. The Dow Jones Industrial Average futures indicated a drop of 0.1% at the open, S&P 500 futures pointed to a loss of 0.15%, while the Nasdaq 100 futures signaled a decline of 0.35%.