Investing.com - The number of people who filed for unemployment assistance in the U.S. last week rose less than expected, according to official data released on Thursday.
The number of individuals filing for initial jobless benefits in the week ended July 28 increased by 1,000 to 218,000, up from the previous week’s 217,000, the U.S. Department of Labor said.
Analysts had expected claims to rise to 220,000 last week.
Figures for the prior week went unrevised at 217,000.
The four-week moving average fell by 3,500 to 214,500 last 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, which measures the number of people still receiving benefits after an initial week of aid, came in at 1,724,000 in the previous week. Continuing claims are reported with a one week lag.
That compared to a consensus forecast of 1,750,000.
The previous week’s reading was revised up to 1,747,000 from an initial reading of 1,745,000.