U.S. Weekly Jobless Claims Rebound From Five-Month Low
Initial jobless claims in the U.S. rebounded by less than expected in the week ended March 12th, according to a report released by the Labor Department on Thursday.
The Labor Department said jobless claims rose to 265,000, an increase of 7,000 from the previous week's revised level of 258,000.
Economists had expected jobless claims to climb to 270,000 from the 259,000 originally reported for the previous week.
The revised level of claims in the previous week represented the lowest since claims hit 256,000 in the week ended October 10th.
The report also said the less volatile four-week moving average inched up to 268,000, an increase of 750 from the previous week's revised average of 267,250.
In the previous week, the four-week moving average was at its lowest level since hitting 262,750 in the week ended October 31st.
The Labor Department also said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, edged up by 8,000 to 2.235 million in the week ended March 5th.
The four-week moving average of continuing claims still fell to 2,243,250, a decrease of 9,250 from the previous week's revised average of 2,252,500.
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