U.S. Weekly Jobless Claims Inch Up Less Than Expected

(RTTNews) - A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits crept slightly higher in the week ended August 1st.

The Labor Department said initial jobless claims inched up to 199,000, an increase of 1,000 from the previous week's revised level of 198,000.

Economists had expected jobless claims to rise to 202,000 from the 197,000 originally reported for the previous week.

Meanwhile, the report said the less volatile four-week moving average edged down to 198,750, a decrease of 4,500 from the previous week's revised average of 203,250.