Initial Jobless Claims Rise for Week

Initial jobless claims increased by 46,000 last week, the Labor Department said Thursday.

Claims increased to 388,000 for the week ended Saturday, Labor said. The department initially reported the prior week’s jobless claims at 342,000.

The initial claims figure was higher than economists’ forecasts of 365,000, Bloomberg reported.

The four-week moving average, a less-volatile measure, rose to 365,500 last week from 364,750.

Continuing jobless claims for the previous week ended Oct. 6 dropped by 29,000 to 3.25 million.