Initial jobless claims rose by 13,000 last week to a total of 196,000, the US Department of Labor reported today.
Economists polled by Reuters had forecast 190,000 applications for the latest week. Reuters also noted the jobs market has remained resilient despite the Federal Reserve’s interest rate hikes.
Meanwhile, the four-week moving average of initial claims fell by 2,500 in the week ended Feb. 4 to a level of 189,250.