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U.S. Weekly Jobless Claims Edge Up To 239,000

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A report released by the Labor Department on Thursday showed a slight increase in first-time claims for U.S. unemployment benefits in the week ended February 11th.

The report said initial jobless claims edged up to 239,000, an increase of 5,000 from the previous week's unrevised level of 234,000. Economists had expected jobless claims to climb to 245,000.

The modest rebound comes after jobless claims dropped to their lowest level in three months in the previous week.

The Labor Department said the less volatile four-week moving average also crept up to 245,250, an increase of 500 from the previous week's revised average of 244,750.

Despite the upward revision, the four-week moving average in the previous week was at the lowest level since hitting 244,000 in November of 1973.

Meanwhile, the report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, dipped by 3,000 to 2.076 million in the week ended February 4th.

The four-week moving average of continuing claims still rose to 2,080,250, an increase of 4,250 from the previous week's revised average of 2,076,000.

by RTT Staff Writer

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