Initial jobless claims rise 19,000 to 373,000 (MarketWatch) (28-02-2008)

WASHINGTON (MarketWatch) -- Data released from the U.S Labor Department shows that initial jobless claims for state unemployment benefits rose 19,000 last week, reaching the highest level since late January.

The four-week average of initial claims fell 1,250 to 360,500, while state jobless benefits recipients were up by 21,000 to 2.81 million in the week ended Feb. 16, reaching the highest level since October 2005.

The four-week moving average of continuing claims rose 24,250 to 2.78 million, also reaching the highest level since October 2005, when Hurricane Katrina flooded the jobless rolls.

The seasonally adjusted insured unemployment rate remained at 2.1%.

Source: MarketWatch