Investing.com - The number of people who filed for unemployment assistance in the U.S. last week rose 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 September 29 rose by 4,000 to a seasonally adjusted 367,000, compared to expectations for an increase of 7,000 to 370,000.
The previous week’s figure was revised up to 363,000 from a previously reported 359,000.
Jobless claims have remained below 400,000, a level historically associated with an improving labor market, in 47 of the past 49 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 22 held steady at 3.281 million, unchanged from the previous week. Analysts had expected continuing claims to decline to 3.271 million.
The four-week moving average was 375,000, unchanged from the previous week’s revised average.
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 added to losses against the euro, with EUR/USD rising 0.59% to trade at 1.2982.
Meanwhile, U.S. stock index futures held on to gains. The Dow Jones Industrial Average futures pointed to a rise of 0.4% at the open, S&P 500 futures indicated a gain of 0.45%, while the Nasdaq 100 futures signaled an increase of 0.5%.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending September 29 rose by 4,000 to a seasonally adjusted 367,000, compared to expectations for an increase of 7,000 to 370,000.
The previous week’s figure was revised up to 363,000 from a previously reported 359,000.
Jobless claims have remained below 400,000, a level historically associated with an improving labor market, in 47 of the past 49 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 22 held steady at 3.281 million, unchanged from the previous week. Analysts had expected continuing claims to decline to 3.271 million.
The four-week moving average was 375,000, unchanged from the previous week’s revised average.
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 added to losses against the euro, with EUR/USD rising 0.59% to trade at 1.2982.
Meanwhile, U.S. stock index futures held on to gains. The Dow Jones Industrial Average futures pointed to a rise of 0.4% at the open, S&P 500 futures indicated a gain of 0.45%, while the Nasdaq 100 futures signaled an increase of 0.5%.