(Kitco News) - The U.S. labor market remains relatively stable with the number of American workers applying for first-time unemployment insurance rising in line with expectations.
Thursday, the U.S. Labor Department said that weekly jobless claims increased by 9,000 to 228,000, up from the previous week's unrevised estimate of 219,000 claims.
According to consensus forecasts, economists were expecting to see jobless claims rise by 225,000.
The four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it flattens week-to-week volatility – rose slightly to 211,500, up by 5,000 claims from the previous week's revised average of 206,500
Continuing jobless claims, which represent the number of people already receiving benefits, were at 1.368 million during the week ending Oct. 1, rising by 3,000 from the previous week's revised level.
