Weekly Jobless Claims Rise A Little More Than Expected
(RTTNews) - Thursday morning, the Department of Labor released its report on initial jobless claims in the week ended May 10, showing that jobless claims increased by a little more than economists had been anticipating.
The report showed that jobless claims rose to 371,000, an increase of 6,000 from the previous week’s unrevised figure of 365,000. Economists had expected a slightly smaller increase in jobless claims to about 370,000.
At the same time, the report showed that the less volatile four-week moving average edged down to 365,750 from the previous week’s revised average of 366,750.
The Labor Department also said that continuing claims in the week ended May 3 rose to 3.060 million from the preceding week’s revised level of 3.032 million.
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