US Jobless Claims Jump to 229,000, Highest Since February (2)

US initial jobless claims unexpectedly rose to the highest since February, potentially reflecting the usual volatility around school summer breaks and holidays.

Initial claims increased by 4,000 to 229,000 in the week ended June 6, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 220,000 applications.

Continuing claims, a proxy for the number of people receiving benefits, also rose, to 1.8 million in the previous week.

New filings tend to be lumpy after the late-May Memorial Day holiday, which marks the unofficial start of the summer ...