Economic Buzz: US unemployment claims rise to 212,000

A report released by the Labor Department on Thursday showed a modest increase in first-time claims for U.S. unemployment benefits in the week ended February 21st.

The Labor Department said initial jobless claims rose to 212,000, an increase of 4,000 from the previous week's revised level of 208,000.

The report said the less volatile four-week moving average also crept up to 220,250, an increase of 750 from the previous week's revised average of 219,500.

Meanwhile, the Labor Department said continuing claims, a reading on the numbers of people receiving ongoing unemployment assistance, fell by 31,000 to 1.833 million in the week ended February 14th.

The four-week moving average of continuing claims still rose to1,847,500, an increase of 3,500 from the previous week's revised average of 1,844,000.

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