WASHINGTON - New claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, suggesting little improvement in the labor market this month after employment stumbled in May.
Initial claims for state unemployment benefits climbed 9,000 to a seasonally adjusted 429,000, the Labor Department said. The prior week's figure was revised up to 420,000.
Economists polled by Reuters had forecast claims to edge up to 415,000 from a previously reported count of 414,000.
The claims report covers the survey period for the government's closely watched data on nonfarm payrolls for June.
Claims increased 15,000 between the May and June survey periods, implying little or no gains in nonfarm payrolls this month after a modest 54,000 increase in May.
The data is the latest in a series to underscore the weakness in the economy, which has persisted through the second quarter.
The Federal Reserve on Wednesday acknowledged the slowdown, but generally perceived it as temporary. Although it cut its growth forecasts and downgraded its view of the labor market, it gave no indication of further monetary support.
The U.S. central bank confirmed it was winding up its $600 billion bond-buying program at the end of June.
A Labor Department official said technical problems had resulted in claims for six states being estimated last week.
The four-week moving average of new jobless claims, considered a better gauge of labor market trends, was unchanged at 426,250.
Initial claims have now been above the 400,000 mark for 11 weeks in a row. Analysts normally associate that level with a stable labor market.
The number of people still receiving benefits under regular state programs after an initial week of aid was little changed at 3.70 million in the week ended June 11.
Economists had expected so-called continuing claims to nudge down to 3.67 million from a previously reported 3.68 million.
The number of people on emergency unemployment benefits rose 5,728 to 3.30 million in the week ended June 4, the latest week for which data is available. A total of 7.54 million people were claiming unemployment benefits during that period under all programs.
(Reporting by Lucia Mutikani, Editing by Andrea Ricci)
Copyright 2011 Thomson Reuters. Click for Restrictions.
Support HuffPost
Our 2024 Coverage Needs You
Your Loyalty Means The World To Us
At HuffPost, we believe that everyone needs high-quality journalism, but we understand that not everyone can afford to pay for expensive news subscriptions. That is why we are committed to providing deeply reported, carefully fact-checked news that is freely accessible to everyone.
Whether you come to HuffPost for updates on the 2024 presidential race, hard-hitting investigations into critical issues facing our country today, or trending stories that make you laugh, we appreciate you. The truth is, news costs money to produce, and we are proud that we have never put our stories behind an expensive paywall.
Would you join us to help keep our stories free for all? Your contribution of as little as $2 will go a long way.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Contribute as little as $2 to keep our news free for all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. Would you consider becoming a regular HuffPost contributor?
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you’ll consider contributing to HuffPost once more.
Support HuffPostAlready contributed? Log in to hide these messages.