US initial jobless claims rise more than forecast

Initial jobless claims in the US increased by 6,000 to 278,000 last week.

Economists had estimated that first-time claims for unemployment insurance fell 2,000 to 270,000 last week, according to Bloomberg.

Claims have not risen above the 300,000 mark for the past year.

The four-week moving average of jobless claims, which evens out some of the volatility, fell 1,750 from last week to 270,250.

It’s the last piece of labour-market data ahead of the February jobs report on Friday. Economists forecast that nonfarm payrolls grew 195,000.

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