NEW YORK (CNN/Money) - New jobless claims in the United States came in much higher than expected last week, the government said Thursday, continuing to reflect a labor market struggling to recover.
The Labor Department said the number of Americans filing new claims for unemployment benefits rose to 430,000 in the week ended June 28, from a revised 409,000 the prior week.
Economists, on average, expected 412,000 new claims, according to a Reuters poll. A level above 400,000 represents a stagnant labor market.
The four-week moving average of new claims, which irons out the ups and downs of the volatile weekly data, fell to 425,000 from a revised 429,500 the prior week
Continued claims, the number of people out of work for a week or more, rose modestly to 3.75 million in the week ended June 21, the latest data available, from a revised 3.71 million the prior week