U.S. Weekly Jobless Claims Climb More Than Expected

First-time U.S. unemployment claims rose by more than expected in the week ended May 9, signaling a modest deterioration in labor market conditions. The report is a relevant economic data point, but on its own it is unlikely to drive major market moves unless confirmed by broader weakness in subsequent releases.

Analysis

First-time U.S. unemployment claims rose by more than expected in the week ended May 9, signaling a modest deterioration in labor market conditions. The report is a relevant economic data point, but on its own it is unlikely to drive major market moves unless confirmed by broader weakness in subsequent releases.