June 30 (Bloomberg) -- The Institute for Supply Management- Chicago Inc. said today its business barometer unexpectedly rose to 61.1 in June from 56.6 a month earlier. Figures greater than 50 signal expansion. Economists projected the gauge would drop to 54, according to the median estimate in a Bloomberg News survey.
Another report today showed the labor market is struggling to improve as more Americans than forecast filed first-time applications for unemployment benefits. Jobless claims dropped by 1,000 to 428,000 last week, the Labor Department said. Economists surveyed by Bloomberg projected 420,000 claims, according to the median estimate.
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