Jobless Claims Rise Again

Initial jobless claims by the newly unemployed rose to 418,000 last week, an increase of 10,000 from the prior week’s revised figure of 408,000.

The four-week moving average fell to 421,250.

Economists polled by Reuters had forecast a much smaller rise, to just 410,000.

For the week ended July 2, the most recent week data were available, 7.3 million Americans—down from 8.4 million a year prior—were receiving some form of unemployment. That includes 3.1 million out-of-work Americans who had exhausted their regular state benefits and were receiving emergency extended benefits from the federal government.