US jobless claims fall short of expectations

US jobless claims were below expectations at 228,000 in the week ending August 26.

Economists polled by Reuters estimated that claims for unemployment benefits would number 235,000.

According to seasonally adjusted data released by the US Department of Labor, the number of claims posted at 230,000 in the week ending August 19 was revised by 232,000.

The four-week average of US jobless claims, which is considered a better indicator of US labor market trends, rose to 237,500 in the week ending August 26.

The total number of people receiving unemployment benefits in the US increased to 1.725 million in the week ending August 19. (Reuters)