First-time claims for U.S. unemployment benefits saw a modest increase in the week ended February 18th, according to a report released by the Labor Department on Thursday.
The report said initial jobless claims rose to 244,000, an increase of 6,000 from the previous week's revised level of 238,000.
Economists had expected jobless claims to inch up to 241,000 from the 239,000 originally reported for the previous week.
Meanwhile, the Labor Department said the less volatile four-week moving average dipped to 241,000, a decrease of 4,000 from the previous week's revised average of 245,000.
With the modest decrease, the four-week moving average fell to its lowest level since hitting 239,500 in the July of 1973.
Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also fell by 17,000 to 2.060 million in the week ended February 11th.
The four-week moving average of continuing claims dropped to 2,069,750, a decrease of 10,750 from the previous week's revised average of 2,080,500.
by RTT Staff Writer
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