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U.S. weekly jobless claims rise; mid-Atlantic factory activity picks up

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - New applications for U.S. jobless benefits increased more than expected last week, but the number of Americans on unemployment rolls fell to its lowest level since 1973, pointing to diminishing labor market slack.Other data on Thursday showed a pickup in factory activity in the mid-Atlantic region this month, with manufacturers saying they were asking for higher prices for their products. Tightening labor market conditions and firming inflation bolster expectations the Federal Reserve will raise interests rates next month.Initial claims for state ...

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First Published: Thu, May 17 2018. 18:53 IST