US Jobless claims increase more than expected
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First-time claims for state unemployment benefits rose more than expected in the latest week, the Labor Department reported Thursday. The number of initial claims in the week ending May 25 rose 10,000 to 354,000. The consensus forecast of Wall Street economists was for claims to rise 1,000 to 345,000. The four-week average rose 6,750 to 347,250. This is the highest level since the week ended April 20. Claims in the previous week were revised to a decrease of 19,000 to 344,000 compared with the initial estimate that they dropped 23,000 to 340,000.
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