Economic Buzz: US Jobless Claims Increase To 222,000

US Labor Department on Thursday showed first-time claims for U.S. unemployment benefits increased by more than anticipated in the week ended May 12th. The report said initial jobless claims rose to 222,000, an increase of 11,000 from the previous weeks unrevised level of 211,000. Meanwhile, the less volatile four-week moving average dipped to 213,250, a decrease of 2,750 from the previous weeks unrevised average of 216,000.