After reporting an unexpected increase in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing initial jobless claims pulled back in the week ended August 22nd.
The report said initial jobless claims dropped to 1.006 million, a decrease of 98,000 from the previous week’s revised level of 1.104 million.
Economists had expected jobless claims to decline to 1.000 million from the 1.106 million originally reported for the previous week.
The Labor Department said the less volatile four-week moving average also fell to 1,068,000, a decrease of 107,250 from the previous week’s revised average of 1,175,250.
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