US Jobless Claims Rise to Highest in 9 Months, Led by California
- New applications rose to 242,000 last week, more than expected
- Four-week moving average climbed to highest since September
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Initial applications for US unemployment benefits jumped to the highest level in nine months, led by a large increase in California, during a period where holidays and the end of school year can cause fluctuations in claims.
Initial claims increased by 13,000 to 242,000 in the week ended June 8, according to Labor Department data released Thursday. The figure was above all forecasts in a Bloomberg survey of economists.