India, July 10 -- First-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th, according to a report released by the Labor Department on Thursday.
The report said initial jobless claims dipped to 227,000, a decrease of 5,000 from the previous week's revised level of 232,000.
Economists had expected jobless claims to inch up to 235,000 from the 233,000 originally reported for the previous week.
"The latest jobless claims data were influenced by seasonal quirks, including the summer shutdown of auto plants, but remain consistent with a labor market characterized by both a slow pace of hiring and relatively few private-sector layoffs," said Nancy Vanden Houten, Lead U.S. Economist at Oxford ...