US initial jobless claims fall by 5,000

US initial jobless claims dropped 180,000 in the week ended 23 April, as expected by analysts, down from an upwardly revised print of 185,000 a week earlier.

On a non-seasonally adjusted basis, initial claims increased by 5,005 from the previous week to 202,983, according to the Labor Department, with notable increases in New York and Massachusetts.

The four-week moving average, which aims to smooth out week-to-week volatility, was 179,750, an increase of 2,250 from the previous week's revised average

The advance seasonally adjusted insured unemployment rate was 1.0% for the week ended 16 April, unchanged from the previous week's unrevised rate.