Investing.com - The number of people who filed for unemployment assistance in the U.S. last week fell more than expected, remaining in territory consistent with a strengthening labor market, official data showed on Thursday.
The number of individuals filing for initial jobless benefits in the week ended August 18 decreased by 2,000 to a seasonally adjusted 210,000 from the previous week’s total of 212,000, the U.S. Department of Labor said.
Analysts expected jobless claims to increase to 215,000 last week.
The four-week moving average was 213,750, down 1,750 from the previous week. The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.
Continuing jobless claims in the week ended August 11 fell to 1.727 million from an upwardly revised 1.729 million in the preceding week, compared to expectations for an increase to 1.731 million.