Initial jobless claims rose by 4,000 last week to a total of 230,000, the US Department of Labor reported. The previous week’s level was revised upward by 1,000.
Reuters noted the figure was in line with economists’ expectations.
“It is too early to interpret higher continuing claims as a signal of a loosening labor market,” said Isfar Munir, an economist at Citigroup in New York, told Reuters. “The holiday time is generally not attractive to workers to start a new job, compounded by many firms temporarily closing during the holiday period.”
Meanwhile, the four-week moving average of initial claims rose by 1,000 to a level of 230,000 in the week ended Dec. 3. The previous week’s average was revised upward by 250.