Initial weekly US jobless claims continue to edge higher

(Sharecast News) - A key indicator of the strength of the US jobs market failed to improve as expected over the preceding week.
According to the Department of Labor, initial jobless claims for the week ending on 16 November were unchanged from the prior seven-day stretch at 227,000.

Economists' forecast had been for a reading of 219,000, while the prior week's reading was revised up by 2,000 claims to 227,000.

The four-week moving average meanwhile was at 221,000, marking an increase of 3,500 from the previous week's tally.

Secondary unemployment claims meanwhile, which track claims made during the week ending on 9 November, edged up by 3,000 to reach 1.695m.