US initial jobless claims fall by 5,000, still around 8-month high

By Ovunc Kutlu

ANKARA (AA) – The number of Americans filing first-time unemployment claims last week fell by 5,000 to 256,000 from the previous week’s 261,000, according to the Labor Department on Thursday.

Despite the decline, initial jobless claims are still hovering around the highest level in eight months.

Analysts estimated claims to come in at 253,000, while the previous week's level was revised up by 10,000 from 251,000 to 261,000.

The four-week moving average was 249,250, an increase of 6,250 from the previous week's revised average.

The US economy generated 372,000 jobs in June, while the unemployment rate remained unchanged at 3.6%.