US initial jobless claims rise less than forecast

Jobless claims rose less than expected last week, according to the Labor Department on Thursday.

Initial jobless claims rose by 3,000 to a seasonally adjusted 254,000 in the week ended 24 September, the Labor Department said. Economists had pencilled in 260,000 claims compared to the previous week’s 251,000.

Continuing claims fell to 2.062m in the week to 17 September from 2.108m the previous week, compared to forecasts of 2.129m.

Barclays Research said: "The low level of initial claims indicates that, from the separations side, the labour market remains healthy. With continuing claims also declining at a rapid rate, these data imply that workers who are losing their jobs are likely finding new ones."