Weekly US jobless claims tick higher

Jobless claims in the US edged up during the preceding week, but remained near record low levels.

According to the Department of Labor, in seasonally adjusted terms, the number of initial unemployment claims over the week ending on 24 May increased by 3,000 to reach 219,000.

Economists polled by Dow Jones Newswires had pencilled in an increase from 215,000 to 218,000.

The four-week moving average meanwhile, which aims to smooth out fluctuations in the data from one week to the next, rose by 2,500 to 222,500.

Secondary unemployment claims, which are those not being filed for the first time and referencing the week that ended on 18 May, increased by 4,000 to 1.791m.