US initial jobless claims come in ahead of expectations at 225,000

(Sharecast News) - Americans lined up for unemployment benefits at an accelerated clip in the week ended 30 May, according to the Department of Labor, hitting the highest initial claim count since February. Initial jobless claims rose by by 13,000 to 225,000, well ahead of market expectations for a much smaller 1,000 increase to 213,000.

Elsewhere, continuing claims slipped by 8,000 to 1.77m, while the four-week moving average, which aims to strip out week-to-week volatility, increased by 6,500 to 214,750.

The advance seasonally adjusted insured unemployment rate was unchanged at 1.2%.





Reporting by Iain Gilbert at Sharecast.com