Initial weekly US unemployment claims rise unexpectedly

The number of those newly out of work in the States jumped during the latest week.

Initial weekly unemployment claims grew by 17,000 to reach 268,000 over the seven days ending on 26 November, according to the Department of Labor.

Economists had forecast a smaller increase to 253,000.

Nonetheless, the four-week moving average, which is designed to smoothe out the week-to-week volatility in the data, edged higher by 500 to 251,500.

Secondary unemployment claims meanwhile increased by 38,000 to reach 2.043m.