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U.S. initial jobless claims rise by 25,000

May 20, 2010

The number of U.S. initial claims for unemployment insurance for the week ended May 15 rose by 25,000, or 5.6%, to 471,000 from the previous week's revised number, the U.S. Department of Labor reported today.

Reuters reported that markets had expected jobless claims would fall to 440,000.

Last week's number was revised up to 446,000 from the previously reported number of 444,000.

The four-week moving average of claims for the week ended May 15 rose by 3,000, or 0.7%, to 453,500 from the previous week's unrevised average of 450,500.