US jobless claims decline in line with expectations

The number of unemployment benefits claimants in the US fell last week, figures released on Thursday showed.

According to the Labor Department, new claims declined by 5,000 to 271,000 in the week to 14 November, in line with expectations.

Meanwhile, the average of new claims over the last four weeks rose by 3,000 to seasonally adjusted 270,750, the highest level in eight weeks.

The four-week average is considered more reliable as it smooths out sharp fluctuations in the more volatile weekly report and, as such, is seen as a more accurate indicator of the health of the labour market.

The Labor Department added 2.175m people were already collecting weekly unemployment benefits, known as continuing claims, in the week to 7 November, a 2,000 decline from the prior week.