8/5, 2:30 PM (Source: TeleTrader)
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US initial jobless claims down 14,000 to 385,000

The number of initial jobless claims in the United States for the week ending July 30 decreased 14,000 from the previous week's revised level to 385,000, slightly below market expectations, the US Labor Department unveiled on Thursday.

The previous week's level was revised downwards by 1,000 to 399,000. At the same time, the 4-week moving average had a weekly decline of 250, landing at 394,000.

The advance seasonally adjusted insured unemployment rate was 2.1 percent for the week ending July 24, dropping 0.3 percentage points from the previous week's unrevised rate. Meanwhile, the advance number for the seasonally adjusted insured unemployment during the same week was down by 366,000 week-over-week to 2,930,000.

Breaking the News / OL