Ankara: The number of Americans filing for unemployment benefits for the first time saw an increase last week, yet the total remained below market forecasts, as reported by the Labor Department on Thursday.

According to Anadolu Agency, initial jobless claims rose by 9,000 to reach 197,000 in the week ending July 25. This figure represented an upward revision from the previous week's count, which was adjusted by 1,000 to 188,000. Economists had anticipated a higher number of initial claims, expecting 201,000.

The four-week moving average, an indicator designed to smooth out the weekly fluctuations, experienced a decrease of 5,000, bringing it to 202,750. In addition, continuing claims, which track the number of individuals receiving ongoing unemployment benefits, fell by 7,000 to settle at 1.782 million for the week ending July 18. The insured unemployment rate remained steady at 1.2%, as stated by the department.

Further labor market statistics revealed that the US economy added 57,000 jobs in June, missing the market's expectations of 110,000 new positions. Despite this shortfall, the unemployment rate showed a slight improvement, decreasing to 4.2% in June from 4.3% in May.

Source: Anadolu Agency