US jobless claims unexpectedly rise to 419,000, most since March

Initial jobless claims in regular state programmes totalled 419,000 in the week ended July 17, up 51,000 from the prior week, US Labor Department data revealed.

Applications for US state unemployment insurance rose unexpectedly last week by the most since late March, underscoring week-to-week volatility in an otherwise improving labour market. Initial jobless claims in regular state programs totalled 419,000 in the week ended July 17, up 51,000 from the prior week, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 350,000 new applications.