US jobless claims down last week

Applications for US unemployment benefits edged lower in the week ended July 8, reflecting the labor market’s flexibility.

Labor Department data showed today, July 13, that initial jobless claims shed 12,000 to 237,000 last week, against expectations for 250,000 applications.

Data for the previous week was revised up from 248,000 to 249,000 applications.

The four-week moving average for new claims, a better measure of labor market trends as it irons out weekly fluctuations, decreased by 6,750 from last week's unadjusted average of 246,750 applications.