Wall Street gains on jobs data

By AFP

New jobless claims, a sign of the pace of layoffs, rose to 311,000 in the week ending August 9, up 21,000 from the prior week, while the four-week moving average added 2,000 claims, the Labor Department said. "While the latest reading on initial claims was higher than expected, the four-week average has risen only slightly from the eight-year low reached last week," Dean Maki of Barclays Research said in a client note. "Thus, we still would view the claims data as consistent with a labour market that is improving.

Read more here: Business Spectator

    

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