Investing.com – The number of people who filed for unemployment assistance in the U.S. last week rose more-than-expected, 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 23 rose by 15,000 to a seasonally adjusted 381,000, disappointing expectations for a gain of 4,000 to 370,000.
The previous week’s figure was revised up to 366,000 from 364,000, which was the lowest since April 2008.
Despite, the increase claims have fallen below 400,000, a level historically associated with an improving labor market, in seven of the past eight weeks.
Continuing jobless claims in the week ended December 16 rose to 3.601 million, above expectations for an increase to 3.590 million. Continuing claims for the previous week were revised up to 3.567 million from 3.546 million.
The average of new claims over the past four weeks decreased by 5,750 to 375,000. 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 held on to gains against the euro, with EUR/USD slumping 0.4% to trade at 1.2890, hovering just above a 15-month low.
Meanwhile, U.S. stock index futures remained modestly higher. The Dow Jones Industrial Average futures indicated a rise of 0.2%, S&P 500 futures added 0.3%, while the Nasdaq 100 futures signaled a 0.1% gain.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending December 23 rose by 15,000 to a seasonally adjusted 381,000, disappointing expectations for a gain of 4,000 to 370,000.
The previous week’s figure was revised up to 366,000 from 364,000, which was the lowest since April 2008.
Despite, the increase claims have fallen below 400,000, a level historically associated with an improving labor market, in seven of the past eight weeks.
Continuing jobless claims in the week ended December 16 rose to 3.601 million, above expectations for an increase to 3.590 million. Continuing claims for the previous week were revised up to 3.567 million from 3.546 million.
The average of new claims over the past four weeks decreased by 5,750 to 375,000. 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 held on to gains against the euro, with EUR/USD slumping 0.4% to trade at 1.2890, hovering just above a 15-month low.
Meanwhile, U.S. stock index futures remained modestly higher. The Dow Jones Industrial Average futures indicated a rise of 0.2%, S&P 500 futures added 0.3%, while the Nasdaq 100 futures signaled a 0.1% gain.