"The clear decline [in claims numbers] since June provides some corroboration of the better-than-expected payrolls reading last week"
- Jim O'Sullivan, chief US economist at High Frequency Economics
The number of Americans claiming for unemployment benefits declined to 361,000 in the week ended August 4 from 367,000 the week before, said the Department of Labor on Thursday.
"The clear decline [in claims numbers] since June provides some corroboration of the better-than-expected payrolls reading last week. In short, encouraging data for the recovery," said Jim O'Sullivan, chief US economist at High Frequency Economics.
In a separate report, the Bureau of Economic Analysis said trade deficit shrank to $42.9 billion in June as exports rose and imports fell.
The Standard & Poor's 500 climbed 0.04% to 1,402.80. The Dow Jones Industrial Average slid 0.08%, or 10.45 points, to 13,165.19. The Nasdaq Composite gained 0.25% to 3,018.64.
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