U.S. initial jobless claims unexpectedly rise

Initial jobless claims for unemployment unexpectedly rose by 15,000 to 627,000 for the week ending June 20, the U.S. Labor Department announced Thursday.

Further, continuing claims, the number of Americans receiving unemployment benefits, also rose 29,000 to 6.74 million. Economists surveyed by Bloomberg News had expected this week's initial jobless claims to total 610,000. Meanwhile, the 4-week moving average was virtually unchanged, increasing just 500 to to 617,250.