U.S. jobless claims rise to five-week high

WASHINGTON, Dec. 21 (Xinhua) -- U.S. initial claims for unemployment benefits rose to a five-week high last week, but remained low by historical standards, the Labor Department reported on Thursday.

Initial jobless claims, an indicator for layoffs across the United States, rose by 20,000 to a seasonally adjusted 245,000 in the week ending Dec. 16, the highest level in five weeks, the department said.

The more stable four-week moving average of initial claims increased by 1,250 to 236,000 last week, but remained below the 300,000 level that's considered a healthy job market.

The jump in claims last week won't shake people's confidence in the strengthening labor market, as claims data tend to be volatile from week to week.

The unemployment rate had fallen to a 17-year low of 4.1 percent in November, according to the department.

The U.S. Federal Reserve said last week it expects the labor market will continue to improve next year, with the unemployment rate dropping to 3.9 percent by the end of 2018. Enditem