US initial jobless claims up 7,000 last week

By Mucahithan Avcioglu

ISTANBUL (AA) - The number of Americans filing first-time unemployment claims rose 7,000 last week to 226,000, according to Labor Department data released on Thursday.

The figure came above market forecasts of 221,000 and was up from the previous week's upwardly revised level of 219,000.

The four-week moving average was 220,750—a fall of 500 from the previous week's upwardly revised average of 221,250.

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

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

The unemployment rate rose to 4.2% in July from 4.1% in June, matching market forecasts.