US jobless claims unexpectedly fall

The number of Americans filing for unemployment benefits fell last week, according to data released on Thursday by the Labor Department.

Initial jobless claims declined by 19,000 from the previous week’s revised level to 202,000. Analysts had been expecting claims to be steady.

The previous week’s reading was revised up by 1,000.

Meanwhile, the four-week moving average came in at 213,250, down 7,750 from the previous week's average, which was revised up by 250.

The four-week average is considered more reliable as it smooths out sharp fluctuations in the more volatile weekly figures, giving a more accurate picture of the health of the labour market.