U.S. jobless claims rise; labor market still strong

The number of Americans filing for unemployment benefits rose more than expected last week, but the underlying trend continued to point to sustained labor market strength. Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 266,000 for the week ended July 23, the Labor Department said on Thursday. Economists polled by Reuters had forecast initial claims rising to 260,000 in the latest week.