US initial jobless claims increased 14k to 240k last week, coming in slightly ahead of expectations of 230k.

• Not seasonally adjusted initial claims grew 10.7k to 212.5k, ahead of 197.2k a year ago.
• Continued claims increased 26k to 1.919 million, slightly ahead of expectations of 1.890 million. The insured unemployment rate ticked back up 0.1 ppt to 1.3%.
• Federal employee claims (UCFE) increased 15 to 610, almost double the total a year ago (338).

• Last week, claims jumped 1.2k in Illinois due to layoffs in several sectors including manufacturing.