2020.10.1512:35:00UTC+00U.S. Weekly Jobless Claims Unexpectedly Increase

First-time claims for U.S. unemployment benefits unexpectedly increased in the week ended October 10th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims climbed to 898,000, an increase of 53,000 from the previous week's revised level of 845,000.

Economists had expected jobless claims to edge down to 825,000 from the 840,000 originally reported for the previous week.

The Labor Department said the less volatile four-week moving average also inched up to 866,250, an increase of 8,000 from the previous week's revised average of 858,250.