US initial jobless claims rise a little less than expected

The number of Americans filing for unemployment benefits rose a little last week, according to the Labor Department.

US initial jobless claims rose by 6,000 to 265,000, versus economists’ expectations for an increase to 268,000.

Meanwhile, the previous week’s level was revised down by 6,000 from 265,000 to 259,000.

The four-week moving average of new claims was up 250 from the previous week’s revised average to 259,750.

The four-week average is considered more reliable as it smooths out sharp fluctuations in the more volatile weekly figures, giving a more accurate picture of the health of the labour market.