After reporting a slight drop in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing a modest rebound in initial jobless claims in the week ended October 20th.
The report said initial jobless claims crept up to 215,000, an increase of 5,000 from the previous week's unrevised level of 210,000. Economists had expected jobless claims to inch up to 214,000.
The Labor Department said the less volatile four-week moving average was unchanged from the previous week at 211,750.
Meanwhile, the report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, dipped by 5,000 to 1.636 million in the week ended October 13th.
The modest decrease pulled continuing claims down to their lowest level since hitting 1.633 million in August of 1973.
The four-week moving average of continuing claims also fell to a 45-year low of 1,646,500 from the previous week's revised average of 1,653,250.
Next Friday, the Labor Department is scheduled to release its more closely watched monthly employment report for October.
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