US initial jobless claims fall to 214,000

Americans lined up for first-time unemployment benefits at a decelerated pace in the week ended 15 October, according to the Department of Labor.

New unemployment claims dropped by 12,000 to 214,000, well below market expectations for a print of 230,000, halting expectations of a loosening labour market.

On a non-seasonally adjusted basis, initial claims rose fell by 20,003 to 178,369, while the four-week moving average, which aims to strip out week-to-week volatility, rose by 1,250 to 212,250.

Reporting by Iain Gilbert at Sharecast.com