Initial US weekly jobless claims edge higher

Layoffs in the US continued to hold at record low levels last week, the latest set of official weekly figures revealed.

Initial unemployment claims edged higher by 2,000 during the week ending on 24 June, according to the Department of Labor.

Economists had forecast a print of 240,000.

The preliminary estimate for the prior week was revised up by 1,000 to 242,000.

In parallel, the four-week moving average, which aims to smoothe out the variations from one week to the next, declined by 2,750 to 242,250.

Secondary unemployment claims, those which are not filed for the first time and referencing the week ending on 17 June, rose by 6,000 to 1.948m.