U.S. jobless claims rise 4,000 to 371,000

WASHINGTON (MarketWatch)
New applications for U.S. unemployment benefits rose by 4,000 to a seasonally adjusted 371,000 in the week ended Jan. 5, the Labor Department said Thursday
That's the highest rate in one month
Economists surveyed by MarketWatch expected claims to total 365,000
Initial claims from two weeks ago were revised down to 367,000 from an original reading of 372,000 The average of new claims over the past month, meanwhile, climbed by 6,750 to 365,750
The four-week average reduces seasonal volatility in the weekly data and is seen as a more accurate barometer of labor-market trends
Also, Labor said continuing claims sank by 127,000 to a seasonally adjusted 3.1 million in the week ended Dec. 29
Continuing claims reflect the number of people already receiving benefits.