Initial US jobless claims little changed

Initial jobless claims in the US were little changed over the preceding week, hinting at the growing toll that moves to dial-back on the reopening the economy were taking on the country's labour market.

According to the Department of Labor, initial jobless claims dipped by just 10,000 over the week ending on 11 July to reach 1.3m.

That was on top of minimal downward revision of 4,000 to the prior week's print to 1.31m.

Economists had anticipated a larger reduction in the pace of firings to 1.2m.

Secondary unemployment claims on the other hand, those which are not being filed for the first time and referencing the week ending on 4 July, did continue moving lower, by 422,000 to 17.338m.