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Financial News: U.S. Weekly Jobless Claims Rebound Slightly More Than

U.S. Weekly Jobless Claims Rebound Slightly More Than Expected

09/27/2018 - 09:19:00 (RTTNews)

(RTTNews) - First-time claims for U.S. unemployment benefits showed a modest rebound in the week ended September 22nd, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims rose to 214,000, an increase of 12,000 from the previous week's revised level of 202,000.

Economists had expected jobless claims to rise to 210,000 from the 201,000 originally reported for the previous week.

The slightly bigger than expected increase came after jobless claims hit their lowest level since December of 1969 in the previous week.

The Labor Department also said the less volatile four-week moving average inched up to 206,250, an increase of 250 from the previous week's revised average of 206,000.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also rose by 16,000 to 1.661 million in the week ended September 15th.

Meanwhile, the four-week moving average of continuing claims fell by 12,250 to 1,679,250, the lowest level since November of 1973.

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