Investing.com - The number of people who filed for unemployment assistance in the U.S. fell more-than-expected last week, dropping to a nine-week low, 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 December 8 fell by 29,000 to a seasonally adjusted 343,000, compared to expectations for a decline of 2,000 to 370,000.
Jobless claims for the preceding week were revised up to 372,000 from a previously reported 370,000,
Continuing jobless claims in the week ended December 1 fell to 3.198 million. Analysts had expected continuing claims to drop to 3.210 million from last week’s revised figure of 3.221 million.
The four-week moving average was 381,500, a decrease of 27,000 from the previous week's revised average of 408,500.
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 modestly higher against the euro, with EUR/USD dipping 0.08% to trade at 1.3063.
Meanwhile, U.S. stock future indices were little changed. The Dow Jones Industrial Average futures pointed to a flat open, S&P 500 futures pointed a loss of 0.1%, while the Nasdaq 100 futures signaled a decline of 0.15%.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending December 8 fell by 29,000 to a seasonally adjusted 343,000, compared to expectations for a decline of 2,000 to 370,000.
Jobless claims for the preceding week were revised up to 372,000 from a previously reported 370,000,
Continuing jobless claims in the week ended December 1 fell to 3.198 million. Analysts had expected continuing claims to drop to 3.210 million from last week’s revised figure of 3.221 million.
The four-week moving average was 381,500, a decrease of 27,000 from the previous week's revised average of 408,500.
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 modestly higher against the euro, with EUR/USD dipping 0.08% to trade at 1.3063.
Meanwhile, U.S. stock future indices were little changed. The Dow Jones Industrial Average futures pointed to a flat open, S&P 500 futures pointed a loss of 0.1%, while the Nasdaq 100 futures signaled a decline of 0.15%.