After reporting decreases in first-time claims for U.S. unemployment benefits for six straight weeks, the Labor Department released a report on Thursday showing an unexpected uptick in initial jobless claims in the week ended June 12th.
The report said initial jobless claims rose to 412,000, an increase of 37,000 from the previous week’s revised level of 375,000.
The increase surprised economists, who had expected jobless claims to edge down to 359,000 from the 376,000 originally reported for the previous week.
Jobless claims had declined in eight out of the nine previous weeks, falling to their lowest levels since March of 2020.
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