WASHINGTON (dpa-AFX) - The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits climbed much more than expected in the week ended February 22nd.
The report said initial jobless claims rose to 242,000, an increase of 22,000 from the previous week's revised level of 220,000.
Economists had expected initial jobless claims to inch up to 221,000 from the 219,000 originally reported for the previous month.
The Labor Department said the less volatile four-week moving average also crept up to 224,000, an increase of 8,500 from the previous week's revised average of 215,500.
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