U.S. weekly jobless claims rise 5,000 to 333,000

 U.S. weekly jobless claims rise 5,000 to 333,000

The number of people who applied for new unemployment benefits rose by 5,000 to 333,000 in the week ended Aug. 3, but the level of initial claims remained close to a five-year low in a possible sign of some improvement in the U.S. labor market ( Spin ). Economists surveyed by MarketWatch expected claims to climb to 339,000 on a seasonally adjusted basis. The average of new claims over the past month, a more reliable gauge than the volatile weekly number, fell by 6,250 to 335,500 to the lowest level since November 2007, the U.S. Labor Department said Thursday. Also, the government said continuing claims increased by 67,000 to a seasonally adjusted 3.02 million in the week ended July 27. Continuing claims reflect the number of people already receiving benefits. Initial claims from two weeks ago, meanwhile, were revised up to 328,000 from an original reading of 326,000, based on more complete data collected at the state level.