US jobless claims rise more than expected during latest week

US jobless claims rose by more than expected last week but remained near record low levels.

According to the Department of Labor, initial unemployment claims increased by 8,000 over the week ending on 27 July to reach 215,000 (Barclays: 210,000).

The four-week moving average meanwhile, which aims to smooth-out the volatility in the data from one week to the next, slipped by 1,750 to 211,500.

Secondary unemployment claims on the other hand, which are those that are not being filed for the first time and referencing the week ended on 20 July, rose by 22,000 to 1.699m.