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Initial U.S. unemployment claims rise modestly in latest week

Staff Writer |
Initial weekly U.S. jobless claims increased modestly, but remained below the 300,000 mark for an 85th consecutive week, their longest streak since 1970.

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Unemployment claims rose by 13,000 over the week ending on October 15 to reach 260,000, according to the Department of Labor.

Economists at Barclays Research had anticipated a 1,000 person dip to 245,000. The prior week's estimate was revised higher by 1,000 to 247,000. The four-week moving average edged up by 2,250 to 251,750.

Secondary unemployment claims, those which are not filed for the first time and referencing the week ending on 8 October were up by 7,000 to 2.057m.

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