US jobless claims rise for second consecutive week

The number of US claims filed for unemployment benefits rose unexpectedly last week, continuing its rise for the second week in a row.

Initial jobless claims increased by 7,000 to 226,000 during the week ended August 2, the US Department of Labor said today, August 7.

This came against expectations of a 231,000-rise from the previous week’s revised figure of 219,000.

The four-week moving average of jobless claims also dropped by 500 to 220,750, compared to the previous week’s upwardly revised average of 221,250 (+250).

This report represents the first labor market data since the disappointing July jobs report, which prompted US President Donald Trump to fire the head of the Bureau of Labor Statistics.