US unemployment levels fall for a second consecutive week

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

US initial jobless claims declined by 13,000 from the previous week's level to 222,000 for the seven days ended 14 December- coming in ahead of expectations of a figure of 224,000.

Meanwhile, the four-week moving average came in at 228,000, up 2,250 from the previous week’s average.

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.

Continuing claims - i.e. the number of people already collecting unemployment benefits - fell by 6,000 to 1.72m.

Claims have been somewhat volatile over recent weeks due to the holiday season.