A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits dropped more than expected in the week ended May 11th.
The report said initial jobless claims slid to 212,000, a decrease of 16,000 from the previous week’s unrevised level of 228,000. Economists had expected jobless claims to dip to 220,000.
On the other hand, the Labor Department said the less volatile four-week moving average climbed to 225,000, an increase of 4,750 from the previous week’s unrevised average of 220,250.
The material has been provided by InstaForex Company – www.instaforex.com
Latest posts by Insta Forex (see all)
- Treasuries Move Sharply Higher Following Trump's Tweets About China - August 23, 2019
- Oil Settles Sharply Lower As Trade Jitters Spark Demand Concerns - August 23, 2019
- Gold Futures Settle At Over 6-year High As Trade Tensions Escalate - August 23, 2019