08.06.202312:35:00UTC+00U.S. Weekly Jobless Claims Climb Much More Than Expected

First-time claims for U.S. unemployment benefits increased by much more than expected in the week ended June 3rd, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims climbed to 261,000, an increase of 28,000 from the previous week's revised level of 233,000.

Economists had expected jobless claims to inch up to 235,000 from the 232,000 originally reported for the previous week.

With the much bigger than expected advance, jobless claims reached their highest level since hitting 264,000 in the week ended October 30, 2021.