U.S. Initial Jobless Claims Higher Than Expected Last Week

Initial jobless claims rose 27,000 last week to 229,000, the Labor Department said. That’s the highest level since January and exceeded analysts’ forecast of 210,000.

Initial claims for unemployment benefits exceeded 215,000, the weekly average for the period before the COVID-19 pandemic in the United States.

Meanwhile, the U.S. Department of Labor reported that the number of Americans continuing to file for unemployment benefits remained stable at 1.3 million.

The four-week median number of Americans filing for ongoing unemployment benefits fell to 1.32 million, the lowest level since January 1970.

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