US jobless claims flat at 213,000

Americans lined up for unemployment benefits at a broadly flat pace in the week ended 23 November, according to the Labor Department.

Initial jobless claims held steady at 213,000 last week, below expectations of a modest uptick to 216,000, extending the view that the US labour market remains at historically strong levels despite the Federal Reserve's aggressive tightening cycle of recent quarters and giving the central bank space to slow the pace at which it loosens monetary policy.

The four-week moving average, which aims to strip out week-to-week volatility, fell by 1,250 to 217,000, while outstanding claims rose to 1.90m in the week, the highest reading since November 2021.

Reporting by Iain Gilbert at Sharecast.com