US initial jobless claims rise by 7,000

By Ovunc Kutlu

ISTANBUL (AA) - The number of Americans filing first-time unemployment claims rose by 7,000 last week to 218,000, according to Labor Department data released Thursday.

The figure came in lower than estimates of 220,000, while the previous week's reading was revised from 209,000 to 211,000.

The four-week moving average was 220,000, a decrease of 500 from the previous week's revised average.

The US economy added 150,000 jobs in October, while the unemployment rate rose to 3.9%, from 3.8% in September.