(RTTNews) - A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits unexpectedly increased in the week ended February 12th.
The Labor Department said initial jobless claims rose to 248,000, an increase of 23,000 from the previous week's revised level of 225,000.
The rebound surprised economists, who had expected jobless claims to edge down to 219,000 from the 223,000 originally reported for the previous week.
Meanwhile, the report showed the less volatile four-week moving average fell to 243,250, a decrease of 10,500 from the previous week's revised average of 253,750.
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