Weekly US jobless claims surprise to the downside

(Sharecast News) - Jobless claims in America unexpectedly broke significantly lower over the preceding week.
According to the Department of Commerce, initial unemployment claims for the week ending on 1 August fell by 249,000 to 1.186m (Barclays: 1.45m).

The four-week moving average of initial claims only dipped by 31,000 to 1,337,750.

Secondary unemployment claims, those which aren't being filed for the first time and referencing the week ended on 25 July also fell, by 844,000 to 16.107m.