MW: U.S. jobless claims up after two-straight declines
By Greg Robb
WASHINGTON (MarketWatch) - First-time claims for state unemployment benefits rose in the latest week after back-to-back declines, the Labor Department reported Thursday. The number of initial claims in the week ending Oct. 17 rose 11,000 to 531,000. It's the highest level since the week ended Sept. 26. Claims had fallen 34,000 in the prior two weeks. Most economists had expected an up-tick in claims. Claims in the previous week were revised to a decrease of 11,000 to 520,000 compared with the initial estimate of a decrease of 10,000 to 514,000. The four-week average of initial claims inched lower by 750 to 532,250. This is the lowest level since mid-January. Meanwhile, the number of Americans receiving state jobless benefits fell 98,000 to 5.92 million in the week ending Oct 10. This is the lowest level since the end of March. The four-week moving average of continuing claims fell 59.250 to 6.03 million, the lowest level since the week ended April 11.
