US jobless claims rise less than expected

The number of Americans filing new claims for unemployment benefits rose less than expected in the week ending March 15, signaling continued labor market resilience in the world’s largest economy.

Data released by the Labor Department on Thursday showed initial jobless claims increased by 2,000 to a seasonally adjusted 223,000 last week.

Economists had expected claims to rise to 225,000 from the prior week’s upwardly revised estimate of 221,000, which was adjusted higher by 1,000.

The four-week moving average of claims, a more reliable gauge of labor market trends, rose by 750 to 227,000.