Filings topped forecasts and reached their highest level since early February, though holiday-related volatility may be affecting the weekly data as investors watch for signs of labor-market softening.
US initial jobless claims rose to 225,000 in the week ended May 30, above expectations of 213,000 and the revised prior reading of 212,000, marking the highest level since the first week of February. The four-week average increased to 214,750, while continuing claims edged down to 1.777 million versus expectations for 1.780 million. The increase has added to investor caution over possible labor-market softening, although holiday-related seasonal volatility may be affecting the weekly data and a single report does not establish a broader shift.