A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rebounded by slightly more than expected in the week ended February 4th.
The Labor Department said initial jobless claims rose to 196,000, an increase of 13,000 from the previous week's unrevised level of 183,000. Economists had expected jobless claims to inch up to 190,000.
The uptick came after jobless claims decreased in four out of the five previous weeks, falling to their lowest level since hitting 181,000 in the week ended April 23, 2022.
Meanwhile, the report said the less volatile four-week moving average edged down to 189,250, a decrease of 2,500 from the previous week's unrevised average of 191,750.