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US Initial Jobless Claims Rise Slightly, Falling Short of Market Forecasts

Washington: The number of Americans filing first-time unemployment claims increased by 1,000 last week, reaching a total of 218,000, as per the latest data released by the Labor Department on Thursday.

According to Anadolu Agency, this figure was slightly below market forecasts, which had predicted 222,000 initial claims. It also marked a minor rise from the previous week's unrevised level of 217,000. Meanwhile, the four-week moving average of jobless claims fell to 221,000, showing a decrease of 3,500 from the prior week's unrevised average of 224,500.

In June, the US economy saw an addition of 147,000 jobs, surpassing forecasts that had anticipated an increase of 111,000 jobs. The unemployment rate also experienced a slight decline, dropping to 4.1% in June from 4.2% in May, which was below market estimates.