US initial jobless claims down 5,000 last week, below estimates

By Mucahithan Avcioglu

ISTANBUL (AA) - The number of Americans filing first-time unemployment claims fell by 5,000 last week to 229,000, according to Labor Department data released on Thursday.

The figure came below the market forecasts of 231,000 and was down from the previous week's downwardly revised level of 234,000.

The four-week moving average was 228,500 – a rise of 2,500 from the previous week's downwardly revised average of 226,000.

In July, the US economy added 73,000 jobs, well below market forecasts of 106,000.

The job additions for June and May, meanwhile, were revised downwards by a combined figure of 258,000.

Unemployment rose to 4.2% in July from 4.1% in June, matching market forecasts.