US: 1.3M Jobless Claims, Exceeding Estimates

Labor Department data released on Thursday showed that the number of people making initial claims for unemployment benefits in the United States.

The reading is slightly worse than the market expectation of 1.25M, but almost unchanged from last week’s reading at 1.310 million, revised from 1.314M previously reported.

4 week moving average initial claims came at 1.375M vs last week’s reading 1.435M.

Continuing claims fell more than expected to 17.338M. Last week’s reading revised downwards to 17.600M.