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Jobless Claims in U.S. Climb as Holiday Hampers Count

Bloomberg (05/30/13) Alex Kowalski

Applications for jobless benefits rose 10,000 to 354,000 in the week ended May 25, according to the U.S. Department of Labor, but the count was incomplete because Memorial Day closures prevented five states from completing their counts. A Bloomberg survey of economists forecasted claims of between 325,000 and 360,000. The less-volatile four-week moving average rose to 347,250 from 340,500. Fewer companies have been laying off employees as sales have picked up, potentially signaling an increase in hiring as demand accelerates further.