Jobless Claims Unchanged for Week

Initial jobless claims were unchanged last week and continuing claims reached a new record the previous week, the Labor Department said Thursday.

Initial claims stayed at 627,000 for the week ended Saturday, Labor said.

The level was higher than analysts’ forecasts of a decline to 620,000 from a previously reported 623,000 the week before, Bloomberg reported.

The four-week moving average, a less volatile measure, rose to 607,500, from 583,500 a week earlier.

The number of people on continuing claims rose to record 4.99 million for the previous week ended Feb. 7, a new record and the fifth straight decline, Labor said.