US initial jobless claims rose by 17,000 to a total of 240,000 in the week ended Nov. 19, the US Department of Labor reported today. The previous level was revised upward by 1,000. Jobless claims are now at their highest level since early August.

Economists polled by Reuters had forecast 225,000 claims for the latest week. The data does not suggest a material shift in labor market conditions, according to the news agency.

Meanwhile, the four-week moving average of initial claims rose by 5,500 in the week ended Nov. 19 to a level of 226,750.