The Labor Department released a report on Thursday showing that first-time claims for U.S. Unemployment Benefits rose slightly more than anticipated in the week ending February 4th.
According to the Labor Department, initial jobless claims rose by 196,000 to 196,000. This is 13,000 more than the unrevised weekly level of 183,000. Economists expected that jobless claims would rise to 190,000.
After jobless claims fell in four of the five previous weeks and fell to their lowest since April 23, 2022, when they were 181,000, the uptick occurred.
The report also stated that the four-weekly moving average was less volatile at 189,250. This is 2,500 less than the unrevised average 191,750 from the week before.
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