U.S. Weekly Jobless Claims Rise To 218,000

With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing a modest increase in first-time claims for U.S. unemployment benefits in the week ended October 26th.

The report said initial jobless claims rose to 218,000, an increase of 5,000 from the previous week’s revised level of 213,000.

Economists had expected jobless claims to inch up to 215,000 from the 212,000 originally reported for the previous week.

Meanwhile, the Labor Department said the less volatile four-week moving average edged down to 214,750, a decrease of 500 from the previous week’s revised average of 215,250.

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