Initial claims for U.S. unemployment benefits were up by a lower-than-expected 15,000 last week, although the number is distorted as two states address a backlog of applications. Despite the caveat, however, the labor market "is genuinely improving. Even if they're working through the backlog, these numbers seem to have a little bit more behind them than just processing problems," said Brian Jones, senior U.S. economist at Societe Generale in New York.

Full Story:

Related Summaries