Forexpros – The number of people who filed for unemployment assistance in the U.S. last week fell less-than-expected, while the previous week’s number was revised higher, 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 June 23 fell by 6,000 to a seasonally adjusted 386,000, compared to expectations for a decline of 7,000 to 385,000.
The previous week’s figure was revised up to 392,000 from a previously reported 387,000.
Jobless claims have remained below 400,000, a level historically associated with an improving labor market, in 33 of the past 35 weeks, though lately claims have been pushing higher from the 350,000 associated with above-average job growth.
Continuing jobless claims in the week ended June 16 fell to 3.296 million from a revised 3.311 million. Analysts had expected continuing claims to decline to 3.280 million.
The four-week moving average was 386,750, an increase of 750 from the previous week’s revised average of 387,500.
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 to gains against the euro, with EUR/USD shedding 0.3% to trade at 1.2432.
Meanwhile, U.S. stock index futures remained lower after the release of the data. The Dow Jones Industrial Average futures pointed to a loss of 0.65%, S&P 500 futures indicated a drop of 0.55%, while the Nasdaq 100 futures signaled a decline of 0.5% at the open.
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