Initial jobless claims rise more than expected

Weekly jobless claims up 14K to 266,000

Initial jobless claims rose by 14,000 to 266,000 last week, according to the Labor Department.

Economists had forecast that first-time claims for unemployment insurance increased last week to 262,000 from a downward revised 252,000, according to Bloomberg.

There are seasonal adjustment issues that could make the claims numbers more volatile around this time of year. But overall, the data send a fairly consistent and upbeat message; weekly claims have not risen above 300,000 for the last 73 weeks — the longest streak in 43 years.

The four-week moving average of claims, which evens out some of the weekly volatility, fell by 1,000 to 256,500.

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Initial jobless claims unexpectedly fell

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