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US jobless claims decline by 1,000

US jobless claims decline by 1,000

Mubasher: The number of unemployed individuals in the US who applied for benefits declined last week, official weekly data showed on Thursday.

US unemployment claims fell by 1,000 week-on-week to 211,000 claims in the week ended 18 May, the US Department of Labor said.

The more stable 4-week average of claims fell by 4,750 to 220,250 from the prior week's unrevised average of 225,200.

The initial seasonally adjusted insured unemployment rate for the week ended 11 May stabilised at 1.2% from the prior week’s unrevised rate.

The advance seasonally adjusted figure for the insured jobless individuals in the US climbed by 12,000 to 1.676 million during the week to 11 May, compared to the prior week’s upwardly revised 1.664 million.

The preliminary unadjusted number of actual initial claims filed under state programmes totalled 191,289 in the week to 18 May, rising by 3,025 claims or 1.6% from the claims filed in the previous week, while initial claims were 207,043 in the comparable week last year.

By 12:37 pm GMT, the US dollar index, which gauges the US currency against a basket of six major peers, rose by 0.10% to 97.14.