US jobless claims rise by more than forecast

Initial US weekly unemployment claims rose by more than expected in the latest reference period.

Over the seven days ended on 20 July they increased by 3,000 to reach 271,000, according to the Department of Labor.

That was higher than the print of 265,000 forecast by analysts at Barclays.

The four week moving average fell by 3,250 to hit 273,750.

The estimate for the previous week was revised higher by 1,000 to 268,000.

Secondary unemployment claims, those which have not been filed for the first time and referencing the week to 13 July increased by 22,000 to 2.247m.