US initial jobless claims fall to 250,000 as labour market remains tight

US initial jobless claims fell by 2,000 to reach 250,000 in the last week as the American labour market remained tight, marking the first dip in three weeks.

The figures from the previous week were revised down by 10,000 to 252,000 from a prior estimate of 262,000.

The US Labour Department confirmed a four-week moving average of 246,750, representing a decline of 2,750 from the last week’s revised average, while the previous week’s average was revised down by 2,500 to 249,500 against 252,000.