U.S. Weekly Jobless Claims Inch Up Slightly More Than Expected

(RTTNews) - First-time claims for U.S. unemployment benefits rose by slightly more than expected in the week ended December 24th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims crept up to 225,000, an increase of 9,000 from the previous week's unrevised level of 216,000. Economists had expected jobless claims to inch up to 222,000.

Meanwhile, the Labor Department said the less volatile four-week moving average edged down to 221,000, a decrease of 250 from the previous week's revised average of 221,250.

The report also said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also climbed by 41,000 to 1.710 million in the week ended December 17th.

The four-week moving average of continuing claims also rose to 1,679,500, an increase of 25,250 from the previous week's revised average of 1,654,250.

Next Friday, the Labor Department is scheduled to release its more closely watched report on employment in the month of December.

Employment is expected to increase by 57,000 jobs in December after jumping by 263,000 jobs in November, while the unemployment rate is expected to hold at 3.7 percent.