The latest read on initial jobless claims.
Initial jobless claims, which count the number of people who applied for unemployment insurance for the first time, climbed by more than expected.
Claims rose to 257,000, according to the Labor Department.
Economists had forecast that claims would tick up by just 1,000 to 245,000 from the prior reading of 244,000.
Continuing claims remain at at 17-year low, in a sign that the job market is still strong. However, initial jobless claims are used as a real-time proxy for the pace of layoffs since people usually file for benefits soon after they lose their jobs.
Refresh this page for updates at 8:30 a.m. ET.
The latest read on initial jobless claims. Read Full Story
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