First-Time Jobless Claims Rise to 350,000

The number of U.S. workers filing first-time claims for unemployment insurance rose more than expected to 350,000 last week, a government report showed.

The increase of 20,000 followed a decline of 25,000 in the previous week, which included the Columbus Day holiday, the Labor Department said. The less volatile four-week moving average fell to 343,250 from 348,750.