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previous week, the Labor Department released a report on Thursday showing a modest pullback in initial jobless claims in the week ended July 24th.

The report said initial jobless claims dipped to 400,000, a decrease of 24,000 from the previous week’s revised level of 424,000.

Economists had expected jobless claims to drop to 380,000 from the 419,000 originally reported for the previous week.

Meanwhile, the Labor Department said the less volatile four-week moving average crept up to 394,500, an increase of 8,000 from the previous week’s revised average of 386,500.


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