Economics
US Jobless Claims Rise by Most Since July During Holiday Week
- Initial applications jump to 229,000, exceeding all estimates
- Unadjusted claims only rose by 1,000 in week through June 4
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Applications for US state unemployment insurance rose by the most in nearly a year during the week that included the Memorial Day holiday.
Initial unemployment claims climbed broadly across states by 27,000 to 229,000 in the week ended June 4, Labor Department data showed Thursday. The figure topped all estimates in a Bloomberg survey of economists. On an unadjusted basis, claims rose by about 1,000.