Investing.com - The number of people who filed for unemployment assistance in the U.S. fell more-than-expected last week, 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 October 26 fell by 9,000 to a seasonally adjusted 363,000, compared to expectations for a decrease of 2,000 to 370,000.
The previous week’s figure was revised up to 372,000 from a previously reported 369,000.
Jobless claims have remained below 400,000, a level historically associated with an improving labor market, in 51 of the past 53 weeks.
Continuing jobless claims in the week ended October 19 rose to 3.263 million from a revised 3.259 million. Analysts had expected continuing claims to decline to 3.250 million.
The four-week moving average was 367,250, a decrease of 1,500 from the previous week's revised average of 368,750.
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 little changed against the euro, with EUR/USD easing up 0.01% to trade at 1.2961.
Meanwhile, U.S. stock index futures held on to mild gains. The Dow Jones Industrial Average futures pointed to an increase of 0.1% at the open, S&P 500 futures indicated a flat open, while the Nasdaq 100 futures signaled a 0.3% advance.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 26 fell by 9,000 to a seasonally adjusted 363,000, compared to expectations for a decrease of 2,000 to 370,000.
The previous week’s figure was revised up to 372,000 from a previously reported 369,000.
Jobless claims have remained below 400,000, a level historically associated with an improving labor market, in 51 of the past 53 weeks.
Continuing jobless claims in the week ended October 19 rose to 3.263 million from a revised 3.259 million. Analysts had expected continuing claims to decline to 3.250 million.
The four-week moving average was 367,250, a decrease of 1,500 from the previous week's revised average of 368,750.
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 little changed against the euro, with EUR/USD easing up 0.01% to trade at 1.2961.
Meanwhile, U.S. stock index futures held on to mild gains. The Dow Jones Industrial Average futures pointed to an increase of 0.1% at the open, S&P 500 futures indicated a flat open, while the Nasdaq 100 futures signaled a 0.3% advance.