May 30 (Bloomberg) -- The U.S. economy expanded less than previously estimated in the first quarter. Gross domestic product rose at a 2.4 percent annualized rate, the Commerce Department said today in Washington.
Separately, applications for jobless benefits increased 10,000 to 354,000 in the week ended May 25, the Labor Department reported. Betty Liu and Michael McKee report on Bloomberg Television's "In the Loop." (Source: Bloomberg)