US weekly initial unemployment claims edge higher

Unemployment claims Stateside edged higher in the latest week.

Initial unemployment claims increased by 7,000 to 284,000 over the seven days ending on 9 January, according to the Department of Labor.

Economists at Barclays had pencilled in a rise to 275,000.

The four-week moving average of claims, which aims to smoothe out the weekly volatility in the data, rose by 3,000 to 278.750.

Secondary unemployment claims, those which are not filed for the first time and referencing the week ended on 2 January were up by 29,000 to 2.263m.