Jobless Claims Rise for Week

Initial jobless claims rose last week by 62,000 claims, to 589,000 for the week ended Saturday, the Labor Department said Thursday.

The level was higher than analysts’ forecasts of 534,000 new claims, Bloomberg reported.

The four-week moving average, a less volatile measure, held at 519,250.

The number of people on continuing claims rose to 4.607 million for the previous week ended Jan. 10, from 4.51 million the prior week, Labor said.