The data from
the Labor Department revealed on Thursday the number of applications for
unemployment benefits increased slightly last week, indicating the jobs market
remains tight even as the economy slows.
According to
the report, the initial claims for unemployment benefits rose 3,000 to 215,000
for the week ended May 25.
Economists had
expected 215,000 new claims last week.
Claims for the
prior week were revised upwardly to 212,000 from the initial estimate of 211,000.
Meanwhile, the
four-week moving average of claims fell 3,750 to 216,750 last week.