U.S. weekly jobless claims rise as higher borrowing costs cool demand

The number of Americans filing for jobless benefits increased by 13,000 to a seasonally adjusted 242,000 last week, according to the US Labor Department. The rise reflected higher interest rates cooling demand across the economy, and economists had forecast such an increase. However, the labor market remains tight as there were 1.6 job openings for every unemployed person in March, above the rate necessary to avoid overheating, and continuing claims dropped 38,000 to 1.805 million during the week ending 22 April.