U.S. unemployment benefit applications edged lower last week, pointing to continued resilience in the labour market despite signs of a gradual cooling in hiring conditions.
According to data released by the Labor Department on Thursday, initial jobless claims fell by 4,000 to 226,000 in the week ended June 13, compared with a revised 230,000 in the previous week.
The reading was broadly in line with market expectations, as economists had forecast claims of 225,000.
Meanwhile, the four-week moving average, which smooths out weekly volatility and is considered a more reliable indicator of labour market trends, rose by 4,000 to 223,250 from a revised 219,250 the week before, suggesting underlying claims activity has ticked higher in recent weeks.