First-time claims for U.S. unemployment benefits unexpectedly increased in the week ended May 14th, according to a report released by the Labor Department. The report showed initial jobless claims rose to 218,000, an increase of 21,000 from the previous weeks revised level of 197,000. With the unexpected increase, jobless claims reached their highest level since hitting 222,000 in the week ended January 22nd. Meanwhile, the report showed continuing claims, a reading on the number of people receiving ongoing unemployment assistance, fell by 25,000 to 1.317 million in the week ended May 7th.Powered by Commodity Insights
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