Weekly US jobless claims jump by 20,000

Initial US unemployment claims increased by 20,000 during the week ending on 4 March to reach 243,000.

Economists at Barclays had penciled in 235,000 jobless claims for the latest reference week.

The estimate of 223,000 claims for the previous week was unchanged.

The four-week moving average gained 2,250 to 236,500.

Secondary unemployment claims, those which are not filed for the first time and referencing the week ending on 25 February, slipped by 6,000 to 2.058m.