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After reporting an uptick in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing an unexpected pullback in initial jobless claims in the week ended July 20th.
The report said initial jobless claims fell to 206,000, a decrease of 10,000 from the previous week's unrevised level of 216,000. The drop surprised economists, who had expected jobless claims to inch up to 219,000.
The Labor Department said the less volatile four-week moving average also dipped to 213,000, a decrease of 5,750 from the previous week's unrevised average of 218,750.
