U.S. Weekly Jobless Claims Unexpectedly Edge Lower

(RTTNews) - 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 Labor Department said the less volatile four-week moving average also slipped to 235,500, a decrease of 5,750 from the previous week's revised average of 241,250.