Initial Jobless Claims Rise for Week

Initial jobless claims increased by 4,000 last week, the Labor Department said Thursday.

Claims rose to 371,000 for the week ended Saturday, Labor said.

The initial claims figure was higher than economists’ forecast of 365,000, Bloomberg News reported.

The four-week moving average, a less-volatile measure, rose to 365,750 last week from 359,000.

Continuing jobless claims for the previous week dropped by 127,000 to 3.11 million.