US: initial weekly jobless claims increase by 11K to 234K

In the week ending May 19, the advance figure for seasonally adjusted initial claims was 234,000, an unexpected increase of 11,000 from the previous week's upwardly revised level of 223,000.

Key highlights:

   •  The 4-week moving average was 219,750, an increase of 6,250 from the previous week's revised average of 213,500.
   •  The advance number for seasonally adjusted insured unemployment during the week ending May 12 was 1,741,000, an increase of 29,000 from the previous week's revised level of 1,712,000. 
   •  The 4-week moving average was 1,751,750, a decrease of 23,250 from the previous week's revised average of 1,775,000 and the lowest level since December 15, 1973 when it was 1,735,750.