Surprise jump in U.S. jobless claims

The number of first-time filers for unemployment insurance rose last week for the first time in a month, according to a weekly government report released May 20 in the U.S. There were 471,000 initial jobless claims filed in the week ended May 15, up 25,000 from an upwardly revised 446,000 the previous week, according to the Labor Department’s weekly report.

National unemployment in the U.S. stands at 9.9%. Stickiness in the unemployment rate at around 10% is a persistent weakness in U.S. economic recovery.

Source: Today’s Zaman

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