US jobless claims unexpectedly fall to 213,000

Americans lined up for unemployment benefits at a decelerated pace in the week ended 16 November, according to the Department of Labor.

Initial jobless claims fell by 6,000 week-on-week to 213,000, the lowest reading since April and well and truly missing expectations for an increase to 220,000.

The four-week moving average, which aims to strip out week-to-week volatility, fell by 3,750 to 217,750, while the non-seasonally adjusted claim count fell by 17,750 to 213,035.

Outstanding claims, on the other hand, rose to 1.90m - the highest reading seen for the last three years.

Reporting by Iain Gilbert at Sharecast.com