Initial US jobless claims rise during latest week

Initial US unemployment claims increased last week, but remained near multi-decade lows.

For the week ending on 23 June, claims rose by 9,000 to reach 227,000, according to the Department of Labor.

Economists had forecast a reading 220,000.

On the other hand, the four-week moving average, which is designed to smoothe out the volatility in the figures from one week to the next, edged up by 1,000 to 222,000.

Secondary unemployment claims, those which have not been filed for the first time and referencing the week ending on 16 June, declined by 21,000 to hit 1.705m.