Applications for US unemployment benefits rose last week to the highest level since February, potentially reflecting volatility around the Memorial Day holiday.
Initial claims increased by 13,000 to 225,000 in the week ending May 30, according to Labor Department data out Thursday. The median estimate in a Bloomberg survey of economists called for 215,000 claims.
The report covers the period that includes Memorial Day and aligns with the start of summer break for some schools. The four-week moving average of initial applications for benefits, a metric that helps smooth out volatility, increased to 214,750 — also ...
