US Initial Claims rise further than expected

FXStreet (London) - US initial jobless claims saw an unexpectedly large increase in the week ended 10 January with an increase of 19,000 claims to 316,000 according to the Department of Labor. The increase was the largest since the beginning of September.

While January typically sees an increase in unemployment claims as seasonal work comes to an end after Christmas, the initial claims number was higher than forecasted.