US unemployment claims surge to 231,000 amid severe winter weather, cold conditions

Applications for US unemployment benefits climbed more than expected last week as harsh winter weather swept across much of the country. Initial jobless claims rose by 22,000 to 231,000 in the final week of January, according to data released on Thursday by the Labour Department, surpassing all forecasts in a Bloomberg survey of economists.

(This is a developing story. More to come)