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

Market news

1 August 2019

U.S. weekly jobless claims rise more than forecast

The data from the Labor Department revealed on Thursday the number of applications for unemployment benefits rose moderately last week, but the trend in claims remained consistent with strong labor market conditions.

According to the report, the initial claims for unemployment benefits increased by 8,000 to a seasonally adjusted 215,000 for the week ended July 27

Economists had expected 212,000 new claims last week.

Claims for the prior week were revised upwardly to 207,000 from the initial estimate of 206,000.

Meanwhile, the four-week moving average of claims decreased by 1,750 to 211,500 last week.

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