U.S. Weekly Jobless Claims Unexpectedly Climb To Six-Month High
January 21 2016 - 4:14AM
RTTF2
First-time claims for U.S. unemployment benefits unexpectedly
increased in the week ended January 16th, according to a report
released by the Labor Department on Thursday.
The report said initial jobless claims climbed to 293,000, an
increase of 10,000 from the previous week's revised level of
283,000.
The increase came as a surprise to economists, who had expected
jobless claims to drop to 275,000 from the 284,000 originally
reported for the previous week.
With the unexpected increase, jobless claims rose to their
highest level since reaching 296,000 in the week ended July
4th.
The Labor Department said the four-week moving average also rose
to 285,000, an increase of 6,500 from the previous week's revised
average of 278,500.
The increase lifted the less volatile four-week moving average
to its highest level since a matching reading in the week ended
April 18th.
Meanwhile, the report said continuing claims, a reading on the
number of people receiving ongoing unemployment assistance, fell by
56,000 to 2.208 million in the week ended January 9th.
The four-week moving average of continuing claims still climbed
to 2,227,750, an increase of 3,250 from the previous week's revised
average of 2,224,500.
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