US jobless claims rise more than expected

Jobless claims in the US hit 248,000 last week, above expectations.

Economists polled by Reuters estimated claims for jobless benefits at 230,000.

According to seasonally adjusted data released by the US Department of Labor, 227,000 people filed for unemployment benefits in the week ending July 29.

1,684 MILLION PEOPLE BENEFICIARIES OF UNEMPLOYMENT MONEY

The four-week average of US jobless claims, which is considered a better indicator of US labor market trends, rose to 231,000 in the week ending August 5.

The total number of people receiving unemployment benefits in the US decreased to 1.684 million in the week ending July 29. (Reuters)