WASHINGTON — Initial claims for U.S. state unemployment increased 69,000 to 375,000 in the Jan. 26 week, the Labor Department reported yesterday, the highest level since the Oct. 8, 2005, week when the level stood at 376,000.
Analysts expected initial jobless claims to rise 19,000 to 320,000 in the Jan. 26 week.
The previous week’s initial claims level was upwardly revised to 306,000 in the Jan. 19 week from 301,000.
The four-week moving average in the Jan. 26 week was 325,750, an increase of 10,250 from the previous week’s level of 315,500.
The level of continuing claims increased 47,000 to 2.716 million in the Jan. 19 week.
— Market News International