US initial jobless claims rise by 7,000

First-time jobless claims rose by 7,000 in the week ended 5 November, according to the Labor Department, with the advance figure for seasonally adjusted initial claims hitting 225,000.

The previous week's level was revised up by 1,000 to 218,000, while the four-week moving average dropped by 250 to 218,750.

According to the same report, the advance seasonally adjusted insured unemployment rate came to 1.0% for the week ended 29 October, unchanged from the previous week's rate.

The advance number for seasonally adjusted insured unemployment during the week ended 29 October was 1.49m - an increase of 6,000 from the previous week's revised level - while the total number of continued weeks claimed for benefits in all programs for the week ended 22 October printed at 1.26m - an increase of 12,522 from the previous week.

Reporting by Iain Gilbert at Sharecast.com