The Labor Department Thursday said initial claims for jobless benefits rose by 22,000 to 496,000 in the week ended Feb. 20, reaching the highest level since the week of Nov. 14, 2009.

The four-week moving average of new claims rose for the week ending Feb. 20, by 6,000 to 473,750.

"The progress toward an 'improving' labor market climate (initial claims below 400,000) -- as opposed to a 'less-bad' climate- has come to a halt," ClearView Economics analyst Ken Mayland wrote.