Jobless Claims Rise for Week

Initial jobless claims rose by 21,000 last week after hitting its lowest level in almost four years the previous week, the Labor Department said Thursday.

Claims increased to 377,000 for the week ended Saturday, Labor said.

Economists had forecast 370,000 new claims, Bloomberg reported. One analyst told Bloomberg that the recent volatility is due to seasonal adjustment issues.

The four-week moving average, a less volatile measure, fell to 377,500, from 380,000 the previous week.

Continuing jobless claims for the previous week ended Jan. 14 rose 88,000 to 3.55 million.