U.S. Jobless Claims Fall by 24,000

According to official data released on Thursday, The number of people who filed for unemployment assistance in the U.S. last week fell more than expected.

The Labor Department said,The number of individuals filing for initial jobless benefits decreased by 24,000 to 209,000 .

Analysts had expected claims to fall to 230,000 last week.

Figures for the prior week were revised up to 233,000.

The four-week moving average fell by 2,250,000 to 229,250,000 last week. The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.

Continuing jobless claims, which measures the number of people still receiving benefits after an initial week of aid, came in at 1,837,000 in the previous week. Continuing claims are reported with a one week lag./investing.com

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