The number of US workers filing new applications for unemployment insurance fell as expected last week, government data has shown, but the number of people still receiving benefits unexpectedly rose to its highest level in nearly two months.
Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 453,000 in the week ended May 29th, the labour department said.
The four-week moving average of new claims, considered a better measure of underlying labour market trends, rose 1,750 to 459,000. – (Reuters)