US initial jobless claims increase by 7,000

By Ovunc Kutlu

ANKARA (AA) - The number of Americans filing first-time unemployment claims last week rose by 7,000 to 225,000, according to US Department of Labor figures released on Thursday.

The figure was expected to come in at 220,000, exceeding the forecast.

Also, the department revised the previous week's number up by 1,000 to 218,000.

With the latest data, the four-week moving average stood at 218,750, a decrease of 250 from the previous week's revised average.

The US economy generated 261,000 jobs in October, but the unemployment rate rose to 3.7%, from 3.5% in September.