US initial jobless claims rise by 14,000 to 9-month high

By Ovunc Kutlu

ANKARA (AA) – The number of Americans filing first-time unemployment claims last week rose by 14,000 to 262,000, according to the Labor Department figures released on Thursday.

This marked the highest level in initial jobless claims since November last year.

The market expectation for the claims was 263,000, while the previous week's level was revised down by 12,000 from 260,000 to 248,000.

The four-week moving average was 252,000, an increase of 4,500 from the previous week's revised average.

The US economy generated 528,000 jobs in July, well above market estimate of 250,000; while the unemployment rate fell to 3.5%.