US weekly unemployment claims rise past forecasts

Unemployment in the US worsened by slightly more than expected last week, fresh government statistics showed.

Initial unemployment claims were unchanged at 276,000 for the week ending on 7 November, according to the Department of Labor.

The consensus estimate had been for a print of 276,000.

The four-week moving average – which smoothes out the weekly variations - rose by 5,000 to hit 267,750.

Secondary unemployment claims, those which are not filed for the first time and referencing the week until 31 October, rose by 5,000 as well, to reach 2.174m.