US jobless claims rise by 10,000

US initial unemployment claims roe to 247,000 in the week ending 7 January, an increase of 10,000 from the previous week's revised level, the US Department of Labor said today.

The previous week's level was revised up by 2,000 from 235,000 to 237,000.

The four-week moving average was 256,500, a decrease of 1,750 from the previous week's revised average. The previous week's average was revised up by 1,500 from 256,750 to 258,250.