U.S. initial jobless claims unexpectedly rose last week, a sign that the labor market is struggling to gain traction.
Jobless claims increased by 1,000 to 427,000 in the week ended June 4, Labor Department figures showed Thursday in Washington. Economists surveyed by Bloomberg News projected a drop in claims to 419,000, according to the median forecast. The number of people on unemployment benefit rolls and those receiving extended payments decreased.
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