U.S. Weekly Jobless Claims Rise More Than Expected

(RTTNews) - A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rose by much more than expected in the week ended January 31st.

The Labor Department said initial jobless claims climbed to 231,000, an increase of 22,000 from the previous week's unrevised level of 209,000. Economists had expected jobless claims to inch up to 212,000.

The report said the less volatile four-week moving average also crept up to 212,250, an increase of 6,000 from the previous week's unrevised average of 206,250.