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U.S. Weekly Jobless Claims Rise More Than Expected

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
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First-time claims for U.S. unemployment benefits rose by more than expected in the week ended December 23rd, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims climbed to 218,000, an increase of 12,000 from the previous week's revised level of 206,000.

Economists had expected jobless claims to inch up to 210,000 from the 205,000 originally reported for the previous week.

Meanwhile, the Labor Department said the less volatile four-week moving average edged down to 212,000, a decrease of 250 from the previous week's revised average of 212,250.

The report also said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, rose by 14,000 to 1.875 million in the week ended December 16th.

The four-week moving average of continuing claims still dipped to 1,864,500, a decrease of 12,500 from the previous week's revised average of 1,877,000.

Next Friday, the Labor Department is scheduled to release its more closely watched report on the employment situation in the month of December.

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