Initial jobless claims rise more than forecast

Initial jobless claims increased by 6,000 to 278,000 last week.

Economists had estimated that first-time claims for unemployment insurance fell 2,000 to 270,000 last week, according to Bloomberg. 

Claims have not risen above the 300,000 mark for the past year. 

The four-week moving average of jobless claims, which evens out some of the volatility, fell 1,750 from last week to 270,250.

It's the last piece of labor-market data ahead of the February jobs report on Friday. Economists forecast that nonfarm payrolls grew 195,000.

Refresh this page for updates. 

NOW WATCH: Here's what a hiring manager scans for when reviewing résumés