US initial jobless benefit claims rose to 2,48,000 in the week ended August 5, the highest level since the week that ended on July 1. The Labor Department said on Thursday that the claims witnessed a rise by 21,000.
In a poll by The Wall Street Journal, Economists had estimated a rise by 5,000 to 2,31,000.
The latest data on US inflation has revealed a modest uptick in the annual rate for July. The Consumer Price Index (CPI) climbed to 3.2 percent for the 12 months ending in July, up from the previous month's 3 percent. However, it is slightly below expectations of 3.3 percent.
First Published: Aug 10, 2023 6:53 PM IST
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