U.S. Weekly Jobless Claims Rise More Than Expected

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits increased by more than expected in the week ended November 19th.

The report said initial jobless claims rose to 240,000, an increase of 17,000 from the previous week’s revised level of 223,000.

Economists had expected jobless claims to inch up to 225,000 from the 222,000 originally reported for the previous week.

The Labor Department also said the less volatile four-week moving average crept up to 226,750, an increase of 5,500 from the previous week’s revised average of 221,250.