US initial jobless claims increase less than forecast

US initial jobless claims increased by 7,000 in the last week to 265,000, less than the 268,000 that had been forecast.

The US Department of Labor said the previous week's level was revised down by 1,000 from 259,000 to 258,000.

Across the last four weeks to 12 March the average was 268,000, an increase of 750 from the previous week's revised four-week average.

The DOJ said this marked the 54th consecutive week of initial claims being below 300,000, the longest streak since 1973.

Seasonally adjusted insured unemployment levels inreased 8,000 during the week to 5 March was 2.235m, after the previous week's level was revised up 2,000 to 2.227m.

The four-week moving average shrank 9,250 to 2.243m.