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U.S. Weekly Jobless Claims Unexpectedly Rise To 229,000
(RTTNews) - The Labor Department released a report on Thursday showing an unexpected uptick in first-time claims for U.S. unemployment benefits in the week ended June 6th.
The report said initial jobless claims crept up to 229,000, an increase of 4,000 from the previous week's unrevised level of 225,000. Economists had expected jobless claims to dip to 219,000.
With the unexpected climb, jobless claims reached their highest level since hitting 230,000 in the week ended February 7th.
The Labor Department said the less volatile four-week moving average also rose to 219,000, an increase of 4,250 from the previous week's unrevised average of 214,750
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