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US Initial Jobless Claims Rise in Week Ended June 6

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US initial jobless claims rose to a level of 229,000 in the week ended June 6 from an unrevised level of 225,000 in the previous week, compared with expectations for a increase to 220,000 in survey of analysts compiled by Bloomberg.

The four-week moving average increased by 4,250 to 219,000 after increasing by 6,500 to a level of 214,750 in the previous week.

Insured jobless claims rose by 24,000 to 1,795,000 in the week ended May 30.

The weekly initial jobless claims data released by the US Labor Department measures filings for unemployment insurance benefits. Initial filings are reported through the previous Saturday, while those already on benefits are measured with a one-week lag.

A decrease in claims suggests a stronger labor market, a positive for the US economy and stocks, but a negative for bonds as it suggests wage growth that could lead to inflation.

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