Initial Jobless Claims Increase for Week

Initial jobless claims climbed last week, the Labor Department said Thursday.

Claims rose by 11,000 to 531,000 for the week ended Saturday, the department said in its weekly report.

Economists had forecast claims would increase to 515,000 from an originally reported 514,000 the previous week, Bloomberg reported.

The four-week moving average, a less volatile measure, fell to 532,250, from 533,000.

Continuing claims for the previous week ended Oct. 10 fell 98,000 to 5.92 million.