WASHINGTON — Initial jobless claims rose to 428,000 on a seasonally adjusted basis for the week ending Sept. 10, the Labor Department reported Thursday. Continuing claims fell to 3.726 million for the week ending Sept. 3.
Initial claims have now been above 400,000 since April, except for a one-week drop to 399,000 in August.
Economists expected 410,000 initial claims and 3.710 million continuing claims, according to the median estimate from Thomson Reuters.
Initial claims for the week ending Sept. 3 were revised to 417,000. Continuing claims for the Aug. 27 week were revised to 3.738 million.
The four-week moving average for initial claims was 419,500, up from a revised 415,500. The four-week average for continuing claims was 3.741 million, up from a revised 3.740 million.