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Initial Jobless Claims Increase By 1,000



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 Updated:
6/9/2011 8:40:00 AM

Initial jobless rose by 1,000 to 427,000 last week, the Labor Department said Thursday.

Economists had forecast the rate to drop to 419,000, Bloomberg reported.

The four-week moving average, a less volatile measure, fell to 424,000 from 426,750 last week.

Continuing jobless claims for the previous week ended May 28 fell by 71,000 to 3.68 million, Labor said.



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