Initial Jobless Claims Rise, Suggesting Slower Recovery
The four-week average of initial claims rose by 3,250 to 466,500. That's the highest since early March.
"Initial claims for unemployment insurance benefits are moving in the wrong direction," Ryan Sweet, a senior economist at Moody's Economy.com in West Chester, Pa., told Bloomberg News before the report. "Jobless claims are further from levels typically viewed as signaling rising payrolls."