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US weekly jobless claims up; continuing claims hit 17-year low

Factories hired more workers and increased working hours, underscoring labour market's strength

Reuters  |  Washington 

New applications for US jobless benefits rose slightly more than expected last week, but a drop in the number of Americans on unemployment rolls to a 17-year low suggested that the labour market continues to tighten. Other data on Thursday showed factory activity in the mid-Atlantic region slowed in April amid a pullback in new orders and shipments. But, factories hired more workers and increased working hours, underscoring the labour market's strength. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 2,44,000 for the week ...

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