Latest Week U.S. Jobless Claims Rise by 24,000

According to official data released on Thursday, the number of people who filed for unemployment assistance in the U.S. last week rose more than expected.

The Labor Department said, the number of individuals filing for initial jobless benefits increased by 24,000 to 242,000 .

Analysts had expected claims to rise to 225,000 last week.

Figures for the prior week were revised up to 218,000 from the prior 215,000.

The four-week moving average rose by 3,000 to 282,250 last week. The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.

Continuing jobless claims, which measures the number of people still receiving benefits after an initial week of aid, came in at 1,808,000 in the previous week. Continuing claims are reported with a one week lag.

That compared to a consensus forecast of 1,849,000.

The previous week’s reading was revised up to 1,872,000 from an initial 1,871,000./

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