US jobless claims rise to 230,000

Americans lined up for unemployment benefits at an accelerated pace in the week ended 7 September, according to the Department of Labor, in line with market expectations.

US initial jobless claims rose by 2,000 week-on-week to 230,000, well above average seen earlier in the year and reinforcing the ongoing trend of a softening labour market.

Outstanding claims rose by 5,000 to 1.85m, while the four-week moving average, which aims to strip out week-to-week volatility grew by 500 to 230,750.

Reporting by Iain Gilbert at Sharecast.com