• U.S. weekly jobless claims fall more than forecast

Market news

11 July 2019

U.S. weekly jobless claims fall more than forecast

The data from the Labor Department revealed on Thursday the number of applications for unemployment benefits fell more than expected last week, pointing to sustained labor market strength.

According to the report, the initial claims for unemployment benefits decreased 13,000 to a seasonally adjusted 209,000 for the week ended July 6.

Economists had expected 223,000 new claims last week.

Claims for the prior week were revised upwardly to 222,000 from the initial estimate of 221,000.

Meanwhile, the four-week moving average of claims decreased by 3,250 to 219,250 last week.

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