US initial jobless claims increase by 17,000

ANKARA

The number of Americans filing first-time unemployment claims last week rose by 17,000 to reach 240,000, according to Labor Department figures released Wednesday.

The figure was expected to come in at 225,000.

The agency revised up the previous week's number up by 1,000 from 222,000 to 223,000.

The four-week moving average was 226,750, an increase of 5,500 from the previous week's revised average.

The US economy generated 261,000 jobs in October but the unemployment rate rose to 3.7%, from 3.5% in September.