The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits climbed much more than expected in the week ended May 6th.
The report said initial jobless claims rose to 264,000, an increase of 22,000 from the previous week's unrevised level of 242,000. Economists had expected jobless claims to inch up to 245,000.
With the much bigger than expected advance, jobless claims reached their highest level since hitting a matching number in the week ended October 30, 2021.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.