WASHINGTON: New claims for US unemployment insurance benefits rose more than expected last week but overall kept at a 15-year low, Labor Department data released Thursday showed.
Initial jobless claims, an indicator of the pace of layoffs, rose by 10,000 to 274,000 in the week ending May 16.
Analysts on average had penciled in a smaller increase to 270,000.
The department said there were no special factors affecting the week's initial claims data.
The four-week moving average, which helps to smooth weekly volatility, fell by 5,500 to 266,250 claims, the lowest level since mid-April 2000.
The initial jobless claims data has been trending lower. A year ago, initial claims stood at 325,000 and the four-week average was 320,250.
"Initial claims show the job market continues to tighten," said Ryan Sweet of Moody's Analytics.
In April, the unemployment rate fell to a seven-year low of 5.4 percent and the economy added 223,000 jobs.
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