U.S. Weekly Jobless Claims Rise More Than Expected To 227,000

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits increased by more than expected in the week ended June 22nd.

The report said initial jobless claims rose to 227,000, an increase of 10,000 from the previous week's revised level of 217,000.

Economists had expected jobless claims to inch up to 220,000 from the 216,000 originally reported for the previous week.

The Labor Department also said the less volatile four-week moving average crept up to 221,250, an increase of 2,250 from the previous week's revised average of 219,000.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also climbed by 22,000 to 1.688 million in the week ended June 15th.

The four-week moving average of continuing claims rose to 1,686,750, an increase of 6,500 from the previous week's revised average of 1,680,250.

Next Friday, the Labor Department is scheduled to release its more closely watched monthly employment report for June.