WASHINGTON - Initial claims for U.S. state unemployment benefits were up 6,000 to 371,000 in the May 10 week, while continuing claims held above 3 million, the Labor Department reported Thursday morning.
Analysts had expected initial jobless claims to rise to 370,000. The previous week’s initial claims level was unrevised at 365,000.
Seasonal adjustment factors had expected a decline of 4.7% in unadjusted initial claims for the May 10 week, but actually got a decline of 3.0%.
Continuing claims for the May 3 week rose 28,000 to 3.060 million. The four-week average rose 15,250 to 3,017,000 million, having passed the 3 million mark in the April 26 week.
— Market News International
