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Financial News: U.S. Weekly Jobless Claims Show Unexpected Increase

U.S. Weekly Jobless Claims Show Unexpected Increase

05/24/2018 - 08:40:00 (RTTNews)

(RTTNews) - For the second consecutive week, the Labor Department released a report on Thursday showing a weekly increase in first-time claims for U.S. unemployment benefits.

The report said initial jobless claims rose to 234,000 in the week ended May 19th, an increase of 11,000 from the previous week's revised level of 223,000.

The increase came as a surprise to economists, who had expected jobless claims to edge down to 220,000 from the 222,000 originally reported for the previous week.

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