Initial Jobless Claims Rise by 7,000 for Week

Initial jobless claims rose by 7,000 last week, the Labor Department reported Thursday.

Claims for the week ended Saturday rose to 343,000 from a revised 336,000 that was lower than originally reported, Labor said.

The number of claims was above analysts’ median forecast of 340,000 new claims, Bloomberg News reported.

The four-week moving average, a less volatile measure, fell to 345,250.

Continuing jobless claims for the previous week ended July 13 declined by 119,000 to 3 million.