U.S. Jobless Claims Rise More Than Expected To 244,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended July 22nd, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims climbed to 244,000, an increase of 10,000 from the previous week's revised level of 234,000.

Economists had expected jobless claims to rise to 241,000 from the 233,000 originally reported for the previous week.

Meanwhile, the Labor Department said the less volatile four-week moving average was 244,000, unchanged from the previous week's revised average.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, fell by 13,000 to 1.964 million in the week ended July 15th.

The four-week moving average of continuing claims rose to 1,963,750, an increase of 4,750 from the previous week's unrevised average of 1,959,000.