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US initial jobless claims surpass forecasts

US initial jobless claims surpass forecasts

The weekly jobless claims report released on Thursday showed a rise above forecast last week, raising concerns that the U.S. recovery is losing momentum.  

The initial jobless claims came in at 884,000 last week, similar to the previous reading, while analysts had estimated a decline in benefits to 838,000.

The continuing claims rose from 13.292 million to 13.385 million in the week ended August 29. Analysts had predicted a reading of 12.9 million.

As of 12:40 GMT, the US dollar index continued to trade lower for a second straight session at 93.10, where it hit a top of 93.65 on Wednesday, the highest since August 12.

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