Initial Jobless Claims Rise 10,000 for Week

Initial jobless claims increased by 10,000 to 418,000 last week, the Labor Department said Thursday.

Economists had called for a rate of 410,000, Bloomberg reported.

The prior week’s claims were initially reported at 405,000.

The four-week moving average, a less volatile measure, fell to 421,250, from 424,000.

Continuing jobless claims for the previous week ended July 9 dropped by 50,000 to 3.7 million, Labor said.