The number of U.S. initial jobless claims rose 0.5% the week ended Jan. 24, the U.S. Department of Labor reported today. The four-week moving average of claims also rose.

There were 588,000 initial claims for unemployment filed, up from the previous week's revised figure of 585,000.

In addition, the four-week moving average of initial claims rose 4.7% to 542,500 from the previous week's revised average of 518,250.