First-time claims for U.S. unemployment benefits unexpectedly inched higher in the week ended July 9th, according to a report released by the Labor Department on Thursday.
The report showed initial jobless claims crept up to 244,000, an increase of 9,000 from the previous week's unrevised level of 235,000. The uptick surprised economists, who had expected jobless claims to come in unchanged.
The Labor Department said the less volatile four-week moving average also edged up to 235,750, an increase of 3,250 from the previous week's unrevised average of 232,500
