Jobless Claims Remain Below 400,000

Washington, DC, March 10, 2011 -- Initial unemployment claims rose more than expected last week, the Labor Department said.

Claims increased by 26,000 to 397,000 in the week ended March 5 from an upwardly revised 371,000 in the previous week.

Economists were expecting initial claims to rise to 382,000, after dropping to its lowest level since May 2008 in the previous week.

The four-week moving average in initial claims was 392,250, a increase of 3,000 from the previous week's revised average of 389,250.