U.S. Jobless Claims Rise to 211,000

WASHINGTON The number of Americans filing new claims for unemployment benefits rose moderately by 12,000 to a seasonally adjusted 211,000 for the week ended May 9, the Labor Department reported Thursday. The figure exceeded economists' expectations of 205,000 and marked an increase from the prior week's total of 199,000, which was revised up from an initial 200,000.

The four-week moving average of initial claims, viewed as a smoother gauge of labor market trends, edged up by 750 to 203,750. Meanwhile, continuing claims, which reflect the number of people receiving benefits after an initial week, climbed 24,000 to 1.782 million for the week ended May 2. These figures come amid a backdrop of heightened inflation driven by disruptions from the US-Israel conflict with Iran, which has affected shipping in the Strait of Hormuz and lifted prices for energy, fertilizers, petrochemicals and aluminum.

The Labor Department noted on Wednesday that producer prices posted their largest increase in four years during April, underscoring persistent cost pressures. Despite these challenges, the labor market has shown resilience. Last week's government report indicated nonfarm payroll employment...